Brickability Group acquires Taylor Maxwell Group in £63m deal
Brickability Group plc has acquired Taylor Maxwell Group, one of the UK's leading suppliers of timber and façade solutions to the construction industry, for a consideration of up to £63 million.
The Bristol offices of Grant Thornton Corporate Finance and Burges Salmon advised the shareholders with Grant Thornton also providing tax advisory services.
Founded in Bristol in 1959 as a brick and timber merchant, Taylor Maxwell has developed into an over £250m turnover business distributing a range of sawn soft wood timber for use in construction, pallets and fencing sectors and façade solutions, including facing bricks, masonry and cladding for housebuilding and commercial building projects.
Brickability is a leading specialist provider of a select range of building materials, to supply solutions to housebuilders and contractors. The acquisition of Taylor Maxwell will broaden Brickability's product offering, adding timber and cladding to the Group, and its market position in key products provides an opportunity for future organic growth.
Shareholder and director, Mark Phillips commented: "Taylor Maxwell has developed a strong reputation for the quality of its product range and the added-value nature of its service. In considering a potential sale, it was important an acquirer would continue to operate the business in this manner and to preserve the Taylor Maxwell values and ethos. I believe that Brickability fits this criterion perfectly. I would also like to thank the teams at Grant Thornton and Burges Salmon for their help and support through this process, they have been truly outstanding, and we could not have achieved the result we did without them standing shoulder-to-shoulder with us."
Grant Thornton corporate finance associate director, Andrew Charter added: "We have assisted the Taylor Maxwell Group for a number of years; it is a truly outstanding business and we are delighted to have helped the team complete this deal. Brickability is an ideal partner for the business going forward and we are confident it will build upon the Taylor Maxwell reputation. Although this deal provides a successful exit for a few shareholders, the majority will continue in the business going forward.”
