Brickability boss Alan Simpspn to stand down after seven years
Brickability boss steps down after seven years of leading the building materials group’s acquisition-driven growth
- Chief executive Alan Simpson has been a director of Brickability since 1996
- Successor Frank Hanna leads clay product specialist Michelmersh Brick Holdings
Briackability’s CEO is about to retire after overseeing the building materials supplier’s dramatic growth and transformation.
Alan Simpson has been a director of Brickability since 1996, eventually transitioning to the CEO position two decades later after leading a management buyout of the company from founder Peter Milton.
Since 2016, he has pursued a strategy of expanding the Berkshire-based company’s revenue streams through numerous acquisitions.
Buildup: Since Alan Simpson (pictured) became CEO in 2016, Brickability has expanded its revenue streams through multiple acquisitions
The company entered the roofing market in May 2018 through the purchase of Crest Brick Slate & Tile and Crest Roofing.
That same month, the company added specialty windows and doors, heating, plumbing and joinery to its offerings through the acquisition of three companies founded by Simpson; Towel Rads, Frazer Simpson and FSN Doors.
The group has made a further 14 acquisitions since it debuted in the junior AIM market four years ago, when it raised Β£57m after costs and was valued at around Β£150m.
These acquisitions increased Brickability’s annual revenue by 187.2 percent during the 12 months ending March 2022.
But sales growth was also strong, with an increase of 31.9 percent.
Despite a more uncertain economic backdrop, Brickability said in April it expected annual revenues of Β£680 million for the past financial year.
John Richards, chairman of Brickability, said Simpson “has guided monumental growth, guided the company through many cycles and challenges, and instilled an entrepreneurial and collegial spirit on the group that has been a key to its success.”
Simpson will remain in office for at least three months to ensure a smooth transition, until replaced by Frank Hanna, who has more than three decades of experience in the brick industry.
Hanna is currently a co-owner of clay product specialist Michelmersh Brick Holdings, which produces more than 125 million bricks and pavers per year and has also grown through a series of strategic acquisitions under his leadership.
Hanna herself joined Sussex-based Michelmersh after it took over Freshfield Lane Brickworks, Europe’s largest clamp brickworks at the time.
Simpson said: ‘The company is exceptionally well positioned in the market and I look forward to continuing with the group in a non-executive role following the transfer.
“Frank is an exceptional operator, manager and leader, and I look forward to working with him in the years to come as we continue to grow the Brickability business.”
Shares of Brickability Group were up just 0.2 percent on Friday morning at 62.6 pence, though they’re down more than 28 percent over the past 12 months.