Brickability Announces Acquisition of ET Clay Products

CONSTRUCTION materials distributor Brickability Group plc has completed the acquisition of ET Clay Products for £11.6 million.

Brickability purchased 100 per cent of the share capital of ET Clay Products Limited and Heritage Clay Tiles Limited.

Established over 25 years ago, ET Clay Products is a specialist supplier of UK and imported clay facing bricks and handmade and handcrafted clay roof tiles.

Operating out of three yards, the businesses will bring new customers to the Group, particularly in the merchants channel.

In the year to 30 July 2022, ET Clay Products generated unaudited revenues of £44.3 million and adjusted EBITDA of £3.0 million.

Acquisition of ET Clay Products

The purchase is being completed with an initial cash payment of £8.1 million. A deferred payment of £3.5 million will be payable in cash over the next three years. This is subject to adjustments for performance against certain target criteria.

The cash purchase is being funded from the Group’s existing cash resources. It is expected to generate an immediate return after completion.

Alan Simpson, CEO of Brickability Group plc, said: “The acquisition of ET Clay Products provides another important step in the growth of our Import Division by further expanding the supply base of the Group through new access to a range of overseas manufacturers.”

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