Seneca builds on success with Brick-Ability MBO

Seneca builds on success with Brick-Ability MBO

Haydock-based investment and advisory firm, Seneca Partners, have acted as the lead adviser on a multi-million pound MBO of Brick-Ability Group.

Promethean Investments LLP have acquired a significant stake in Brick-Ability, a leading UK building materials supplier generating turnover of over £70m and EBITDA of around £4.5m. The group operates from 12 sites across the UK supplying bricks, blocks, cladding and other building products to the housebuilding and construction sectors. In the last year alone, the business supplied over 150 million bricks to UK housebuilders. The deal will see the Group’s existing chairman exit the business and provide access to capital for the company’s ambitious future growth plan incorporating geographical expansion, acquisitions and product diversification.

Alan Simpson (CEO) said: “Promethean brings the financial backing to fulfil our growth ambitions, both via acquisitions and further investment in our core markets. We welcome them on-board and would like to thank the team at Seneca for their tireless efforts bringing this together for us.”

Gordon Lane, Seneca’s Head of Corporate Finance added: “We are very pleased to successfully deliver this transaction, our second of 2016 working with Alan. We identified Promethean as the ideal private equity partner for Brick-Ability and arranged a deal that allowed the management team to both realise value today and have the financial fire power to support their ambitious future growth plans”.

Management were advised by Gordon Lane, Andrew Stubbs and Paul Leyland of Seneca Partners and Beverley Jones and Phil Pugh of Acuity Legal’s Cardiff office. Promethean were advised by Gareth Tippett of PwC and William McIntosh of Brodies LLP.

Important information

This information is of a general nature and does not constitute an offer to provide services.

The opinions and conclusions given here are those of Seneca Partners and are subject to change without notice.

The value of investments and/or any income arising from them may fluctuate.

Past performance is not necessarily a guide to future performance.

Important notice

The products and services shown on this website place capital at risk. Investors may receive less in returns than they have invested. Investments may not allow for capital to be withdrawn on demand. If an investment provides tax relief then this relief is subject to change and is dependant on personal circumstances. Any reference to past performance or forecasted performance is not a reliable indicator of future performance.

Seneca Partners recommends that any investor seeks specialised financial and/or tax advice before investing. Seneca Partners does not provide advice and the information on this website, including but not limited to news, should not be construed as such.

Please confirm that you understand this warning and wish to proceed.