CLAY AND SLATE TILE distributor, McCann Roofing Products has been bought out by building materials company Brickability in a deal worth £2.75m.
McCann Roofing is based in Grays, Essex, and distributes Imerys, Gaelic Pizarras, Cupa Pizarras and SVK branded products.
In the year ended 31 December 2019, McCann reported profit before tax of £0.7 million on revenues of £8.2 million.
The deal is Bridgend-based Brickability’s first acquisition since it floated on the AIM stock market, and expands its distribution area, as well as adding to its portfolio, which already includes roofing and cladding products.
McCann will become a subsidiary of Crest Brick Slate and Tile Limited, an existing Brickability Group company.
Alan Simpson, CEO of Brickability, said: “Bringing McCann into the Brickability Group is very exciting. 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.
“We have to keep delivering for our shareholders, so expect our focus on acquisition and expansion to continue.”