London Stock Exchange welcomes Brickability Group plc to AIM
London Stock Exchange today welcomes leading construction materials supplier Brickability Group plc (“Brickability” or the “Group”) to trading on the AIM market of London Stock Exchange. Brickability is the eighth new listing on the AIM market in 2019.
Brickability has raised £57 million through a placing and subscription valuing the company’s market capitalisation at £150 million on Admission. It will trade under the ticker “BRCK”.
Brickability supplies over 300m bricks annually and with 25 sites and sales offices, employing approximately 225 people throughout the UK. The Group has three divisions and additionally supplies roofing, heating flooring, doors and windows to meet UK housebuilder demand. For the year ended 31 March 2019, Brickability reported revenues of £163.3 million and EBITDA of £17.7 million.
The business was founded in 1984 and has grown both organically and through acquisition. Since that time the group has made numerous acquisitions to increase both the range and depth of products available to its customers.
The Group is using the net proceeds from the IPO to repay debt and to provide flexibility to accelerate its growth organically and through acquisition.
Cenkos is acting as Nomad and Broker to the Group and Montfort is financial communications advisor.
Speaking at The Market Open Ceremony, John Richards, Chairman of Brickability commented:
"We are very pleased with the level of interest generated from new institutional investors in support of our admission to trading on AIM. The move to AIM and the additional funding will allow us to continue our growth trajectory through further organic growth and through accretive bolt-on acquisitions. We would like to thank our new and existing investors for their support, and the whole Brickability team for coming with us on this exciting journey."