Brickability Group PLC Brickability Group Acquires McCann Limited (6780H)
December 07 2020 - 1:00AM
UK Regulatory
TIDMBRCK
RNS Number : 6780H
Brickability Group PLC
07 December 2020
Brickability Group Acquires McCann Limited
Acquisition will provide Group owned transport and logistics
operation
Brickability Group plc ("Brickability" or "the Group"), a
leading construction materials distributor, announces that is has
completed the acquisition of McCann Limited ("McCann"), the UK and
European haulage and logistics provider.
McCann specialises in transporting building materials from
factories in Europe to construction sites in the UK. Distribution
of these bricks, roof tiles and other materials is core to
Brickability and this acquisition gives the Group control in this
critical and growing area. The acquisition will provide
Brickability with its own pan-European transport network ensuring
security and control of supply lines and reducing exposure to third
party freight providers at a critical moment for UK imports and
exports.
Established in 1972, McCann operates a fleet of over 100
trailers, taut liners and flatbeds, and offers European haulage and
freight service, UK nationwide road haulage and express logistics.
The Company is headquartered in Immingham, Lincolnshire, and will
continue to be based there with its current staff. Arnold Van Huet,
Managing Director of Crest Group and member of the Brickability
management board will assume responsibility for management of
McCann.
The acquisition of McCann is aligned with the strategy set out
at IPO to identify opportunities to acquire services and products
complimentary to the Group's existing offer.
The total consideration payable for McCann is GBP1,750,000 of
which GBP1,225,000 was paid on completion with a further GBP525,000
payable over the following three years at GBP175,000 per annum.
For the 12 months ended 30 April 2020 turnover of McCann was
GBP8.7 million with a normalised EBITDA of approximately
GBP430,000.
Alan Simpson, CEO of Brickability, said:
"This is a significant deal for Brickability. By bringing McCann
into the Group we are securing our supply lines and reducing the
risk of Brexit-related delays to logistics and haulage post 1(st)
January.
We look forward to welcoming the team to the Brickability Group
and building an even stronger business in 2020.
The team continues to identify and evaluate opportunities to
deliver the IPO promise, retaining its focus on diversification and
expansion."
- ENDS -
Enquiries
Brickability Group plc
John Richards, Chairman
Alan Simpson, CEO
c/o Montfort Communications
Cenkos Securities plc (Nominated adviser
and broker)
Max Hartley / Max Gould (Nomad)
Julian Morse (Sales) +44 (0) 20 7397 8900
Montfort Communications
James Olley
Miles McKechnie +44 (0)20 3770 7916
About Brickability
Brickability is a leading construction materials distributor,
serving customers across the UK for over 25 years through its
mainstream and local networks. The Company supplies over 300m
bricks annually and already has 25 sites and sales offices,
employing approximately 285 people throughout the UK. Across its
three divisions, the Group supplies bricks, roofing, heating,
flooring, doors and windows to meet UK housebuilder demand.
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END
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