Guttering and Cladding Merchant Bought for £6million

A SUFFOLK-BASED guttering and cladding merchant has been bought by national construction materials manufacturer and distributor Brickability Group PLC.

The £6m deal for U Plastics follows Brickability’s recent announcement of its £2.75m acquisition of Essex roofing products specialist McCann.

U Plastics is a merchant for facia, soffits and guttering, external cladding and ancillary products. Founded in 2004, the company is based in Suffolk and serves a network of customers primarily across East Anglia, Central England, London, and the South East.  Management will be retained as part of the acquisition.

In the year ended 31 December 2019 U Plastics reported profit before tax of £1.3 million on revenues of £8.0 million.

Guttering and Cladding Acquisition

Brickability, which has its headquarters in Bridgend, will be funding the deal through its existing resources, having raised £57m by floating on the stock exchange in August 2019.

Alan Simpson, CEO, Brickability Group plc, said: “Brickability is again delivering what it promised at IPO – acquisitions which support the future growth of the Company.

“U Plastics will add to our product offering, increasing and diversifying our range, as well as sharing a route-to-market. The acquisition brings strong management to the Group, which we value.

“I’m very pleased to see the progress we’re making with our acquisition strategy and look forward to seeing the positive contribution in the months and years ahead.”

Brickability also operates Crest Brick Slate and Tile Limited, which McCann now operates as a subsidiary of.

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