The chief executive of Briackability is set to retire from the top job, having overseen dramatic growth and a transformation of the building materials supplier.
Alan Simpson has been a director of Brickability since 1996, eventually moving to the CEO position two decades later after leading a management buyout of the company from its founder Peter Milton.
Since 2016 he has pursued a strategy of expanding the Berkshire-headquartered firm’s revenue streams through numerous acquisitions.
Building up: Since Alan Simpson (pictured) became chief executive in 2016, Brickability has expanded its revenue streams through multiple acquisitions
The company entered the roofing market in May 2018 by purchasing Crest Brick Slate & Tile and Crest Roofing.
That same month, the firm added specialist windows and doors, heating, plumbing and joinery to its offering through the takeover of three companies founded by Simpson; Towelrads, Frazer Simpson and FSN Doors.
Another 14 acquisitions have been made by the group since it debuted on the junior AIM market four years ago, when it raised £57million after costs and was valued at around £150million.
These takeovers enabled Brickability’s annual turnover to soar by 187.2 per cent for the 12 months ending March 2022.
But top-line growth was also strong, rising by 31.9 per cent.
Despite a more uncertain economic backdrop, Brickability said in April that it expected to report annual revenue of £680million for the last financial year.
John Richards, chairman of Brickability, said Simpson ‘has overseen monumental growth, navigating the business through many cycles and challenges, and has imprinted an entrepreneurial and collegiate spirit on the group which has been a key to its success’.
Simpson will remain in post for at least three months to ensure a smooth transition until he is replaced by Frank Hanna, who has over three decades of experience in the brick industry.
THIS IS MONEY PODCAST
Hanna currently co-runs clay product specialist Michelmersh Brick Holdings, which produces more than 125 million clay bricks and pavers per year and has also grown through a series of strategic acquisitions under his leadership.
Hanna himself joined Sussex-based Michelmersh after it acquired Freshfield Lane Brickworks, then Europe’s biggest clamp process brick plant.
Simpson said: ‘The business is exceptionally well placed within the market, and I look forward to continuing with the group in a non-board role post-handover.
‘Frank is an exceptional operator, manager and leader, and I look forward to working with him in future years to continue to grow the Brickability business.’
Brickability Group shares were just 0.2 per cent higher at 62.6p on Friday morning, although they have slumped by over 28 per cent in the past 12 months.