U Plastics acquired by Brickability Group

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Suffolk facia, soffits and guttering, external cladding and associated products merchant U Plastics has been acquired by Brickability Group for £6 million.

U Plastics serves customers across East Anglia and beyond from its bases in Newmarket and Ipswich. Founded in 2004, its management team will remain in place.

The £6 million deal, which came after U Plastics reported a 2019 pre-tax profit of £1.3 million, based on sales of £8 million, includes £3.6 million payable on completion, £1.2 million in three payments over three years, plus £1.2 million subject to performance.

Alan Simpson, CEO of Brickability Group, said: “Brickability is again delivering what it promised at IPO – acquisitions which support the future growth of the company.  

“U Plastics will add to our product offering, increasing and diversifying our range, as well as sharing a route-to-market. The acquisition brings strong management to the Group, which we value.

“I’m very pleased to see the progress we’re making with our acquisition strategy and look forward to seeing the positive contribution in the months and years ahead.”