Brickability Group has announced the admission of its entire issued ordinary share capital, which comprises 230,458,821 ordinary shares, to trading on the AIM market of the London Stock Exchange on August 29, 2019.
East Yorkshire-based Crest Building Products and southern-based roofing contractors, Crest Roofing, Crown Roofing and Excel Roofing Services, joined the Brickability Group in March 2018.
Brickability Group has been formed by the coming together of companies who all have their specialist products and services, but who all serve the same market.
Investment board member and managing director of Crest Building Products, Arnold van Huet, has announced that the company will now be called Brickability Group, and has a market capitalisation of approximately £150 million and an enterprise value of approximately £170 million.
He said: “After months of hard work, this is a great achievement for the company, and is expected to be a huge success. It will put the business on a sound footing for the future and for further expansion.”
Despite today’s market of political and financial uncertainties, Arnold doesn’t expect Brexit to be a concern and remains positive as the October deadline approaches.
Brickability Group was founded in 1984 in Bridgend, South Wales, selling and distributing bricks to local housebuilders. The business expanded to Maidenhead and today has business revenues worth £169 million. With 25 sites covering the whole of the UK, and trading with major housebuilders like Bellway, Barratt, Taylor Wimpey, Bovis and David Wilson, the company also supplies regional and small builders, contractors and architectural specifications.
John Richards, group chairman of Brickability Group, concluded: “Despite it being a tough market at the moment due to Brexit and potential issues with American and Chinese markets, the reception has been a good one and we have been heartened by the response we have already had from future investors in this challenging market. The company looks to continue with the near term organic growth plans and bolt-on acquisitions, and are looking to have extra brick distribution in new areas of the UK.”
