Howden roof tile importer, Crest Brick and Roofing Supplies, have been acquired by Brickability Group, with support of a 40 million funding package at a banking syndicate led by Lloyds Bank Commercial Banking.
The Bridgend-headquartered company bought Crest Brick and Roofing Services recently, after it made the strategic decision to inflate its portfolio of companies to increase choice vital products and materials.
Lloyds Bank Commercial Banking acted as the lead arranger during the address AIB Bank, with every funder providing 20 million of facilities.
The funding have also been helpful to purchase four other building materials firms perfectly located at the South of England.
Crest Brick and Roofing Supplies will now retain its individual branding as well as placement but can get involved with the wider Brickability Group, such as five other building supply companies all over the UK.
As as a consequence of acquisitions, the audience expects to enhance its turnover by 50 % within the next Calendar year.
Simon Mellor, Brickability Group MD, said: “There currently is a lack of quality, affordable building materials in the united kingdom, which suggests from the sector is required to import an ever-increasing volume of products from overseas.
“Acquiring Crest Brick and Roof supplies lets us to access their expertise and established network of suppliers and contacts, while strengthening our personal relationships with key manufacturers while in the Eurozone and beyond.”
Paul Williams, Relationship Director at Lloyds Bank Commercial Banking, added: “Brickability Group is undoubtedly an ambitious company which is constantly searching for possibilities to expand and improve its product offering and service levels to its clients.
“The construction sector is a crucial building block within the UK’s economy which is vital that firms can access the tailored funding they need to grow and prosper.”