Ibstock takes £1m majority share in fireproof cladding firm
Leicestershire-based brickmaking giant Ibstock has bought a majority share in Bloxwich-headquartered building materials supplier Generix Facades.
Ibstock has taken a 75% stake in Generix, which is a supplier of non-combustible facade systems, in a deal worth around £1m.
Generix, which was formed in 2013 in Bloxwich in the West Midlands, produces three types of façade systems: Generix-Lite (natural stone panels), Infinity (ceramic panels), and Genbrix (mechanically fixed brick-slip cladding.)
Co-founder and managing director, John Nolan, will remain in his role and retain the minority shareholding in Generix.
Jeremie Rombaut, managing director of Ibstock Futures, said: “Generix represents an important strategic step for Ibstock Futures, with a new systems offering into the fast-growing sectors of the UK facades market. Through this acquisition, we have a great opportunity to expand our customer offering in new market segments. I welcome John and his team to Ibstock and look forward to scaling the business together in the years to come.”