Brickability Group, a construction materials distributor, has announced the acquisition of McCann Roofing Products, a roofing products importer and distributor, for a total cash consideration of £2.75m.
An importer of building materials from across Europe, McCann operated over revenues of £8.2m in the year ended 31 December 2019, while running a profit before tax of £700,000.
The acquisition aids Brickability’s “diversifying” aims by extending the firm’s operations into the logistics and haulage sector.
Alan Simpson, CEO at Brickability, said: “This is exactly the sort of acquisition we set out to make when we listed: the right price with strong management, great performance and a strong business model that fits the Brickability mould.
“We look forward to welcoming the McCann team and working with them to keep growing the group, diversifying our product range and increasing our distribution footprint.”
As a result of the deal, McCann will become a subsidiary of the existing Brickability companies Crest Brick Sale and Tile.