Pierce Corporate Finance Supports FabSpeed Holdings joining the Michelmersh Group

Pierce Corporate Finance were delighted to act on the sale of FabSpeed Holdings Limited to Michelmersh Brick Holdings Plc.

FabSpeed, the UK’s largest independent brick fabricator, has been acquired by Michelmersh Brick Holdings Plc. This acquisition complements the Group’s growing portfolio of premium products and services, increasing the PLc’s ability to optimise and grow its off-site and modern methods of construction product offering in support of its sustainability centred ethos. FabSpeed UK’s bespoke facilities and skilled production processes provide a large capacity for complex, specialist, prefabricated brick components in demand by architects, engineers and housebuilders who require the highest quality assemblies to achieve accelerated construction timelines.

The merger of LiteSpeed and Fab-Lite created FabSpeed in early 2021, bringing together over 25 years of experience along with heavy investment in innovation and quality management systems. FabSpeed has earned the trust of the Country’s largest housing developers for a wide variety of products and services specified for prestigious and volume construction projects across the UK. The business has long been considered a pioneer in prefabricated building solutions, dedicated to modern construction, using quality cutting-edge technologies to enable efficient solutions to complex masonry design specifications.

Expert advice from manufacturing and engineering accountants

The corporate finance team at Pierce, led by Tom Wilkinson provided lead advisory and diligence throughout the sale whilst Farleys Solicitors LLP led by Richard Bell provided legal support and advice. 

Chris Penston and Mark Richards, Directors of FabSpeed commented: “We are delighted to join the Michelmersh Group. Our portfolio of innovative prefabricated brick products will add diversity and complement their existing premium range, making Michelmersh the specialist one-stop manufacturer for all brick requirements. This opportunity enhances our nationwide coverage by integrating fabrication facilities within the existing brick manufacturing sites, adding capacity, flexibility and growth. We look forward to exciting times ahead.”

Chris Penston added “Fab-Lite and Litespeed both decided to engage with Pierce some years ago following an initial consultancy-based role led by Tom Wilkinson.

“Tom was at the forefront of negotiating a merger between our two respective businesses 2 years ago, offering great advice on how to structure the deal and create FabSpeed UK.

“When we were approached by Michelmersh PLC shortly thereafter to purchase FabSpeed UK, he was the obvious choice to fight our corner. 

“His advice and personal touch helped get through the entire process and deal with the many complexities. He and his team were always around to provide expertise and support at every step of the way. 

“On behalf of Mark and I, thanks to Tom and all at Pierce for their help on the journey.’’

Tom Wilkinson, Director of Pierce said, "I am absolutely delighted for the shareholders of FabSpeed on the disposal of the group to Michelmersh Brick Holdings Plc. Since we acted on merging two respective regional businesses less than two years ago, it’s amazing how quickly the group has gone from strength to strength to the business and leading industry brand of today! A testament to the directors and wider leadership team and we look forward to seeing the group now be taken to the next level.’’ 

Pierce has a wealth of experience in the manufacturing and engineering industry, providing accountancy and business consultancy services to many clients across the North West.

How the Pierce corporate finance team can help you

If you need advice regarding business acquisition or to find out more about the services offered by the Pierce corporate finance team, call 01254 688100.

Alternatively, you can request a free initial consultation by completing our quick contact form.

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