Firm says deal following promised strategy to move into other markets
Materials firm Brickability has bought a Hampshire roofing contractor for 拢5.5m, making it the firm鈥檚 twelfth acquisition in the past three years.
Founded in 1997, Leadcraft is based in Hook and in the year to June 2021 had revenue of 拢5.6m and earnings of 拢1m.
Alan Simpson, chief executive at Brickability, said the deal, which follows its acquisition in June of 拢250m-turnover timber and cladding company Taylor Maxwell, meant it was following its promised strategy of moving into other sectors
He added: 鈥淭his acquisition will further strengthen and diversify our offering as we lean into the V-shaped recovery being seen across the construction sector.鈥�
The deal consists of an initial payment of 拢3.3m, with the remaining 拢2.2m due over the next three years, of which 拢900,000 is subject to performance criteria.
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