(Sharecast News) - Construction materials distributor Brickability has acquired European haulage and logistics provider McCann.
Brickability will pay a total of £1.75m for McCann, which operates a fleet of over 100 trailers, tautliners and flatbeds, and offers European haulage and freight service, UK nationwide road haulage and express logistics.
The AIM-listed group also stated that the acquisition of McCann was aligned with the strategy set out at the time of its IPO to identify opportunities to acquire services and products complementary to its existing offer.
Chief executive Alan Simpson 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 January.
"The team continues to identify and evaluate opportunities to deliver the IPO promise, retaining its focus on diversification and expansion."
As of 1000 GMT, Brickability shares were up 3.33% at 54.25p.
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