Brickability has acquired McCann Roofing Products for £2.75 million, increasing and diversifying the group’s European material supply and product range.
The acquisition will also allow Brickability to expand the distribution of roofing products into new regions across the UK.
The total consideration is being satisfied by the payment of £2.75 million in cash on completion funded from the Group’s existing resources and is expected to be immediately earnings accretive. McCann will become a subsidiary of Crest Brick Slate and Tile, an existing Brickability Group company.
Alan Simpson, chief executive officer of Brickability, said: “Bringing McCann into the Brickability Group is very exciting. This is exactly the sort of acquisition we set out to make when we listed: the right price with strong management, great performance and a strong business model that fits the Brickability mould.”
McCann is a specialist importer and distributor of natural and man-made building products, focused on roofing. The company imports high-quality materials form some of the largest producers in Europe, across France, Spain and Belgium.
