Brickability Group plc has introduced a £63m takeover settlement of Taylor Maxwell.
Brickability, which presently operates companies within the brick, roofing, plumbing and joinery fields, says the acquisition is because of be authorised by shareholders at a June 29 assembly.
Taylor Maxwell has important timber operations, together with fencing, decking, landscaping timbers, building wooden, engineered timber and flooring in addition to wood-plastic composites, façade programs and off-site building options. It additionally has a brick enterprise, with whole group turnover exceeding £250m.
Martin Rudge, managing director of Taylor Maxwell, described the transfer as an thrilling new chapter within the historical past of the enterprise which might profit workers, prospects and suppliers.
“We’re very pleased with what has been achieved over the past sixty years and the way the enterprise has developed into the corporate it’s right this moment,” mentioned Mr Rudge.
“Progress in current occasions has been natural and this transaction is seen as an awesome alternative to develop the enterprise additional as half of a bigger organisation.”
Brickability delivered annual revenues of £180m within the yr ended March 31, 2021 and adjusted EBITDA of £17m. The acquisition of Taylor Maxwell is the eleventh strategically important acquisition made by Brickability since 2018.
“As Brickability continues to develop, this acquisition marks a major growth within the vary of options we are able to ship for our rising consumer base and represents a major value-add for our shareholders,” mentioned chairman John Richards.
“Taylor Maxwell operates from 16 regional places throughout the UK, with minimal overlap towards Brickability’s present consumer base. Through the years, Taylor Maxwell have acquired a wealth of native market information, enabling them to construct robust skilled relationships with a various vary of key producers.”
He mentioned the acquisition would bolster Brickability’s main place in UK brick distribution.
Alan Simpson, CEO of Brickability, mentioned Taylor Maxwell had been earmarked for acquisition since IPO, as Brickability believed the union would convey important quick and long-term advantages to each firms and prospects.
This yr, Taylor Maxwell has introduced the acquisition of SBS Cladding LTD, a distributor and fabricator of ornamental rainscreen cladding programs, and the renaming of TM World to Taylor Maxwell Hardwood.
The latter transfer in April was to raised symbolize the heritage of the corporate’s hardwood division and supply a clearer understanding of obtainable product ranges. The brand new identify additionally coincided with the separation of the softwood merchandise into the core timber enterprise.