Brickability acquires radiator valves distributor

Construction materials manufacturer Brickability acquired West Midlands-based radiator valves distributor Bathroom Barn on Tuesday for £645,000.

Brickability will make an initial payment of £322,500 for Bathroom Barn, which will be integrated into its Towelrads business going forward, with a deferred consideration of £322,500 split in three equal tranches payable in cash over the next three years.

The AIM-listed group added that the acquisition would be funded from existing resources and was expected to be immediately earnings accretive post-completion.

Chief executive Alan Simpson said: "Bathroom Barn is a perfect partner for our highly successful Towelrads business and adds significantly to our product offering in this area."

As of 1020 GMT, Brickability shares were down 2.26% at 54.0p.