Brickability Group PLC (AIM:BRCK)’s first acquisition in the renewable energy sector, HBS NE, came at a time that “couldn’t be better,” according to John Richards, chairman of the building materials supplier.
Boris Johnson announced earlier this week “that as early as next year, all new properties have to have an [electric vehicle (EV)] car charger,” noted Richards.
One product Brickability has acquired through HBS NE is an EV charging point, as well as an installation and maintenance arm, underlining the good timing of the acquisition, Richards told Proactive.
The new business also specialises in the design, supply, installation, and maintenance of solar panels and battery storage.
Brickability, which has completed 13 deals over the last three years, said generally its market is buoyant [with] some parts seeing “unprecedented,” trading he said.
More acquisitions are likely, said Richards, adding HBS NE will be “earnings accretive immediately” before adding that its “order book for 2022 is looking very healthy.”