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Brickability Group PLC - Bridgend, Wales-based construction materials distributor - Buys ET Clay Products for GBP11.6 million through the acquisition of E.T. Clay Products Ltd and Heritage Clay Tiles Ltd. Says the consideration is being paid with an initial cash consideration of GBP8.1 million and deferred consideration of GBP3.5 million payable in cash over the next three years.
Chief Executive Officer Alan Simpson says: "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."
ET Clay Products is a specialist supplier of UK and imported clay facing bricks and high quality handmade and handcrafted clay roof tiles. For financial 2022, it generated revenue of GBP44.3 million and adjusted earnings before interest, tax, depreciation and amortisation of GBP3.0 million.
Current stock price: 73.76 pence, down 0.3%
12-month change: down 31%
By Xindi Wei; xindiwei@alliancenews.com
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