Brickability Group acquires Hampshire-based roofing contractor Leadcraft

UK-based construction materials distributor Brickability Group has acquired Leadcraft Limited, a Hampshire-based roofing contractor, for £5.5 million.

Brickability Group said that Leadcraft is its 12th strategically important acquisition in the past three years. It follows the company’s recent acquisition of timber and non-combustible cladding supplier Taylor Maxwell Group.

The latest acquisition further underlines its acquisition strategy set out at listing, said Brickability Group, which trades on the London Stock Exchange.

Established in 1997, Leadcraft offers a variety of roofing services that include tiling, zinc, slate, felt, copper, and lead works.

The roofing contractor, for the 12 months ended 30 June 2021, had reported unaudited revenue of £5.6 million.

Brickability Group acquires Hampshire-based roofing contractor Leadcraft. Photo courtesy of Harald Matern from Pixabay.

Brickability Group said that the consideration includes an initial payment of £3.3 million and £2.2 million in deferred consideration, which is payable in cash during the next three years, of which £0.9 million is contingent on performance criteria.

The acquisition will be funded from the Group’s existing resources and is expected to be immediately earnings accretive post completion.

Alan Simpson — CEO of Brickability Group said: “Following our recent transaction with Taylor Maxwell this is another strong acquisition for Brickability as we continue the strategy we set out at IPO.

“Leadcraft is a great addition to our very profitable Roofing Services division, expanding our product offering in this area by bringing copper and zinc metal roofing and heritage leadwork capability into the Group.

“This acquisition will further strengthen and diversify our offering as we lean into the V-shaped recovery being seen across the construction sector.”