Mon, 22 Jan 2024 | BUSINESS SALE
Brickability Group, a distributor of construction materials, has completed the acquisition of specialist cladding installation and remediation contractor Topek Southern Ltd (TSL), in a deal that could be worth up to £48 million.
TSL, which is headquartered in Hampshire, provides facade systems, roofing, curtain wall and fire remediation services for both live and occupied sites. The firm is a principal contractor on industrial and commercial projects across the UK, with a portfolio that includes office buildings, sports stadiums, student accommodation and hotels.
The deal valuation represents just under a 6x multiple of TSL’s profits before tax of £8.1 million for the year ending August 31 2023, generated on audited revenue of £38.7 million.
Bridgend-headquartered Brickability said that the deal further expands its operations in the South of England, following the recent acquisition of Group Topek Holdings Ltd, and would complement its offering in the cladding remediation market. The group added that the deal creates a full-service cladding installation and remediation contracting operation with a national reach.
The acquisition, Brickability’s 14th since it went public in 2019, is expected to be earnings accretive in the first full year and marks another step in the group’s diversification. Since its IPO, Brickability has sought to build a diversified multi-business strategy, aimed at broadening and deepening its product portfolio and geographic presence.
Brickability Chairman John Richards said: "We are delighted to announce the acquisition of Topek Southern soon after the group's acquisition of Group Topek Holdings. In addition to further diversifying the group's product and revenue base, the acquisition gives the group a truly national presence in the cladding market.”
Alan Simpson, Chief Executive, Brickability, added: "As previously reported, our bricks and building materials division has seen cladding products supply go from strength to strength. Topek Southern will sit within the group's contracting division alongside Group Topek Holdings and will further strengthen the group's national presence in the market across cladding supply and installation as we continue to deliver upon the group's diversified multi-business strategy."
Find out about the trends that could shape UK M&A in 2024
This is a unique chance to acquire a thriving waterless wheel wash company in Cheshire, offering an innovative, eco-friendly solution that’s rapidly gaining traction across construction sites nationwide. With minimal overheads and a remarkable gross...
This business presents a robust opportunity with a diverse range of electrical services and a loyal client base across commercial, industrial, and private sectors. The sale is prompted by the owner's retirement plans.
This Design and Build Company is a market-leading loft conversion specialist, integrating architectural design with high-quality construction services. The company operates through its in-house architectural practice, a RIBA and ARB registered entity...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.