An acquisitive building materials firm is cementing £200 million-plus float plans to fuel further expansion, the Evening Standard understands.
City sources say Bridgend-based Brickability has appointed Cenkos to work on a launch on the Alternative Investment Market this year.
It is said to be raising £75 million to reduce debts while also giving it the firepower for further deals.
Brickability is one of the UK’s leading suppliers of facing bricks, stone, paving and cladding to housebuilders and building contractors with subsidiaries providing roof tiles, radiators and internal doors.
It had £140 million in revenues and underlying profits of £14.3 million but is shooting for £500 million in sales over the next five years.
Documents seen by the Standard say the group “wants to continue to grow both organically and through acquisition to build a large building supplier”. Private equity house Promethean backed a management buyout in 2016.
Brickability, Cenkos and Promethean declined to comment.
