A Bristol timber a brick enterprise based in 1959 has been acquired by AIM-listed Brickability Group for round £63m.
Clifton-based Taylor Maxwell Group distributes timber to be used within the development, pallets and fencing sectors, in addition to supplies for façades, together with going through bricks, masonry and cladding for home constructing and business constructing initiatives. It has a turnover of greater than £250m.
Brickability, a specialist supplier of constructing supplies for home builders and contractors, stated the acquisition would “broaden” its product providing, including timber and cladding to the group.
It additionally stated it could increase its market place in key merchandise and supply a possibility for future natural development.
Shareholder and director Mark Phillips stated: “Taylor Maxwell has developed a powerful status for the standard of its product vary and the added-value nature of its service.
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“In contemplating a possible sale, it was necessary an acquirer would proceed to function the enterprise on this method and to protect the Taylor Maxwell values and ethos. I imagine that Brickability matches this criterion completely.”
The Bristol places of work of Grant Thornton Company Finance and regulation agency Burges Salmon suggested the shareholders. Grant Thornton additionally offered tax advisory companies.
Grant Thornton company finance affiliate director Andrew Constitution added: “We’ve got assisted the Taylor Maxwell Group for various years; it’s a really excellent enterprise and we’re delighted to have helped the crew full this deal.
“Brickability is a perfect accomplice for the enterprise going ahead and we’re assured it’ll construct upon the Taylor Maxwell status. Though this deal supplies a profitable exit for a number of shareholders, the bulk will proceed within the enterprise going ahead.”