Acuity advises Brickability on its acquisition of Modular Clay Products
Key Contact: Beverley Jones
Acuity is pleased to have advised long-standing client and leading construction materials distributor Brickability Group plc on its acquisition of Modular Clay Products Limited in a deal worth £4,750,000. The consideration is being satisfied by an initial cash payment of £3.33 million and deferred consideration of £1.43 million payable in cash over the next three years, subject to adjustments for performance against target performance criteria.
MCP is a leading supplier of UK and Imported clay facing bricks to the specification sector. Working closely with architects, MCP provides design advice and consultation to ensure the perfect product is chosen for a variety of schemes covering housing, education, healthcare, leisure and recreation. MCP’s established track record features contemporary and prestigious projects in the UK and Ireland, including The Shard.
Alan Simpson, CEO of Brickability, said: “The Group currently addresses the specification sector through our Taylor Maxwell and Bespoke Brick businesses. The acquisition of Modular Clay Products will significantly increase our presence in the specification sector and bring the Group new access to a range of European manufacturers further boosting our strong import capabilities.”
Corporate partner Beverley Jones and senior associate Tom Saunderson led the transaction, with cross departmental support from Emma Hutchings, Ben Honour, Adam McGlynn and Joe Smith.
For more information, contact our Corporate Team.