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Brickability Group PLC - Bridgend, Wales-based construction materials distributor - Buys ET Clay Products for £11.6 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 £8.1 million and deferred consideration of £3.5 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 £44.3 million and adjusted earnings before interest, tax, depreciation and amortisation of £3.0 million.
Current stock price: 73.76 pence, down 0.3%
12-month change: down 31%
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