NuGen Properties

Acquisition gives brick maker prefab products

Fabspeed adds brick cladding to Michelmersh Brick’s product offering

Fabspeed specialises in brick slips, prefabricated brick-clad chimneys and arches, and plastic building sections that look like brick.

The £6.25m initial purchase price represents 5.3x Fabspeed’s historic profits before tax, depreciation and amortisation (Ebitda) of £1.2m on a cash free, debt free basis. A further

£2m is payable in cash subject to results over the next two years.

In 2021 Fabspeed made a pre-tax profit before tax of £600,000 and at year-end had gross assets of £5.2 million.

Michelmersh joint chief executive Frank Hanna said: “Fabspeed is a great addition to our business, enabling us to create a leading business in both clay and pre-fabricated products.

“With cross selling and distribution synergies to unlock over the coming periods, we expect to enhance what is already an earnings accretive deal to deliver further value for our shareholders as we integrate both businesses.”

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Nugen Properties

Customer Reviews

Dan Morten 18/01/22

Easy to work with, Jordan and the team were professional and were easy to communicate with.
Would highly recommend.

Di Hayes 20/08/22

NuGen Properties built an extension to the rear of my property, replacing the old conservatory. I am so pleased I chose this company. From the initial quotation, through the build and after they were professional, polite & well mannered. They kept the site tidy throughout the build and kept me informed of each stage as it happened. The work was finished to a good standard and I have had nothing but compliments on their work. I am already planning for them to come back and do some more work for me in a few months. I would 100% recommend them.

Bradley Eyles 20/06/23

Nugen were fantastic throughout the works they carried out on my property, Jordan provided constant updates and ensure any questions I had were always answered. All works were completed in a timely fashion, on budget and exceptional customer service. Highly recommend!

Sonny Carter-heyward 29/02/22

Brilliant service, renovated my house to make a dream a reality. Thanks guys

sitemanager 22/01/23

Great firm to communicate with fast and good quality work.