Ibstock takes 75% stake in Generix Façades
Brick company Ibstock has bought a 75% stake in Generix Façades, the company based in Walsall, West Midlands, formed by John Nolan, originally to supply natural stone façades in conjunction with Blockstone. It also offers porcelains and brick slip façades.
The attraction for Ibstock is that the façades are non-combustible (popular following Grenfell Tower) and have a low carbon footprint.
Announcing on 3 August its acquisition of 75% of Generix, Ibstock said the move into non-combustible façade systems extends its modular construction technology portfolio and represents a further strategic step in broadening the range of façade systems offered by Ibstock Futures.
Ibstock says the acquisition of Generix aligns closely with the strategy for Ibstock Futures to become a market leader in façade products and solutions that combine the aesthetic appeal of traditional materials with higher productivity and a lower environmental footprint.
John Nolan retains a minority shareholding in Generix and remains the Managing Director. He says: “Being part of Ibstock PLC will provide a fantastic platform for future growth. We are looking forward to this exciting new chapter in the development of Generix Facades and our non-combustible facades systems.
"We are extremely excited about the future and this transaction indicates the direction in which Generix is travelling. The strength of the brand has now gone to the next level and becoming part of the Ibstock family is a lifetime ambition come true for myself and the staff.
"While continuing to strive in the MMC sector with the Genbrix system, it is anticipated that Ibstock Generix will experience major growth in the natural stone and ceramic-porcelain rainscreen market.’’
The cost of the investment in Generix is small (speculation puts it at about £1million) but the Ibstock board believes the business has the potential to grow significantly with the Ibstock input.
Generix was formed in 2013. It has three types of façade systems: Generix-Lite (natural stone panels), Infinity (ceramic panels), and Genbrix (mechanically fixed brick-slip cladding).
Jeremie Rombaut, Managing Director of Ibstock Futures, says: “Generix represents an important strategic step for Ibstock Futures, with a new systems offering into the fast-growing sectors of the UK façades 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.”