Brickability buys second facade contractor for £48m

Aaron Morby 3 months ago
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Construction materials distributor Brickability has bought facade and roofing contractor Topek Southern Limited (TSL) for £48m. 

Brickability’s latest buy follows the £45m acquisition of Glasgow-based cladding contractor Group Topek Holdings three months ago and expands Brickability’s reach into the South allowing it to offer a countrywide cladding and remediation service.

Established in 2009, Hampshire-based TSL started out as the southern division of Topek and broke away in a management buyout in 2018 to act as a principal contractor for commercial and industrial projects across the country.

Its specialist portfolio includes hotels, student accommodation, office buildings and sports stadiums.

Last year TSL achieved revenue of £39m, generating a £8.1m pre-tax profit, making it nearly twice the size of the Group Topek.

Since listing on the AIM market in 2019, Brickability has acquired 14 businesses, pursuing a diversified multi-business strategy to broaden and deepen the Group’s product portfolio and geographic coverage.

Alan Simpson, CEO, Brickability, said: “As previously reported, our bricks and building materials division has seen cladding products supply go from strength to strength.

“Topek Southern will sit within the group’s contracting division alongside Group Topek Holdings and will further strengthen the group’s national presence in the market across cladding supply and installation as we continue to deliver upon the group’s diversified multi-business strategy.”

Dexter Copeland, Managing Director, TSL, added: “We are excited to be joining the Brickability Group and with it beginning a new chapter in the history of the business.

“This is a great opportunity to develop the business further as part of a larger organisation.

“I look forward to working within the group for the benefit of all stakeholders.”  

 

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