Construction materials distributor Brickability Group PLC has acquired West Midlands group Bathroom Barn for £645,000 – a deal that’s expected to be immediately earnings accretive.
A supplier of radiator valves, elements and traditional valves to distributors and retailers, the new business will be integrated into the Towelrads operation.
“Bathroom Barn is a perfect partner for our highly successful Towelrads business and adds significantly to our product offering in this area,” said Brickability chief executive, Alan Simpson.
In the year ended March 31, Bathroom Barn reported underlying earnings (EBITDA) of £215,000 on revenues of £1.1mln.
Brickability is paying an initial £322,500 followed by the same amount split equally over the next three years.
The transaction was funded from the company’s existing financial resources.