Brickability buys renewable energy specialist

Grant Prior 3 years ago

Construction materials distributor Brickability Group has bought renewable energy specialist HBS NE Limited for £5.5m.

HBS specialises in the design, supply, installation and maintenance of solar PV, battery storage and electric vehicle charging technologies.

The firm is well established in the house building, construction, commercial and industrial and public sectors.

Through its product brand UPOWA, HBS provides products for housing developers to ensure they achieve compliance  with Part L, Part S and the Future Homes Standard in the most efficient and affordable way.

Its products have been specified on over  15,000 properties nationwide and the firm currently works with 16 of the Top 25 UK developers including Barratt, Vistry and Taylor Wimpey.

For the year ended 31 March 2021, HBS NE reported unaudited revenue of £8.5m and normalised  EBITDA of approximately £1.1m.

Alan Simpson, CEO, Brickability Group plc, said: “We are delighted to announce the acquisition of HBS NE.

“As a market leader with a proven track record, we believe the acquisition of HBS NE will further strengthen  our strategic positioning within the wider market and enable us to expand into a new product segment.

“We are excited about the opportunities for the business and look forward to welcoming and working alongside HBS NE’s management and team of experts. Our new colleagues will help us to accelerate  growth and product development, whilst also evaluating how we can implement its solutions across our  existing divisions and throughout our supply chain.”

James Bull, Founder and Managing Director HBS NE, said:  “I am extremely proud of what we have achieved and the success of HBS NE since it was founded 13 years  ago.

“Whilst we have continued to grow organically, we firmly believe that this transaction marks a significant  and exciting new chapter for the business.

“Brickability’s significant network of long-standing relationships and distribution channels offers HBS NE  the opportunity and capacity to scale and develop our national service and product offering more rapidly, further supporting the growing needs of our customers, as requirements within the house building and  construction sector continue to evolve.”

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