Building products company is set for growth thanks to a tailored funding solution
Brick-Ability Ltd, the UK’s leading distributors of bricks, cladding and paving materials to the building industry, has secured a £6 million funding deal with Lloyds TSB Commercial Finance.
Brick-Ability was established in 1986 and has its head office in Bridgend, with other depots and showrooms throughout the UK. In 2007, as part of its ongoing acquisition strategy, it acquired The Matching Brick Company, a specialist supplier of bricks and pavers.
The company now plans to grow further by adding complementary businesses and integrating them within the group.
Brick-Ability is a £40m turnover business which supplies facing bricks, architectural masonry, paving materials, natural stone, granite, terracotta rain screen and other external cladding materials to the UK building industry.
It enjoys preferred supplier status with a number of the UK’s leading building companies including Carillion, Wilmot Dixon, Cowlin Construction, Leadbitter Construction and Bellway Homes.
Simon Mellor, Managing Director of Brick-Ability said: “We’ve been supplying all sectors of the UK building industry for over 25 years and have had to deal in recent years with a very difficult economic climate.
“We needed a funding partner which is supportive of our ambitious plans for the future. Lloyds TSB Commercial Finance took the time to understand our business, and the market in which we operate, and developed a tailored funding solution which meets all of our banking needs.”
Stephen Galvin, Business Development Director at Lloyds TSB Commercial Finance said: “We have been impressed by the management’s professionalism and commitment and are delighted to welcome Brick-Ability as a new customer. We look forward to working together for many years to come.”
July 2011