Construction materials distributor Brickability Group has completed the acquisition of McCann Limited, a building materials specialist haulage and logistics provider, in a move that gives it an in-house transport function that it says will reduce the risks associated with Brexit.
The acquisition of McCann, which had a turnover of £9.7 million and EBITDA of £430,000 in the year-ending 30 April, will provide Brickability with its own in-house logistics and transport operations.
McCann specialises in transporting building materials from factories in Europe to construction sites in the UK, handling the distribution of bricks, roof tiles and other materials.
Brickability said the acquisition would provide it with its own pan-European transport network, which would give it security and control of supply lines as well as reducing exposure to third party freight providers at what it described as a “critical moment for UK imports and exports”.
McCann operates a fleet of over 100 trailers, taut liners and flatbeds and is headquartered in Immingham, Lincolnshire, where it will continue to be based with its current staff. Arnold Van Huet, Managing Director of Crest Group and member of the Brickability management board will assume responsibility for management of McCann.
Brickability will pay £1,750,000 for McCann, of which £1,225,000 was paid on completion with a further £525,000 payable over the following three years at £175,000 per annum.
Brickability Chief Executive Alan Simpson said: “This is a significant deal for Brickability. By bringing McCann into the Group we are securing our supply lines and reducing the risk of Brexit-related delays to logistics and haulage post 1st January.
“The team continues to identify and evaluate opportunities to deliver the IPO promise, retaining its focus on diversification and expansion.”