Marshalls lines up £535m acquisition of roofing specialist Marley

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Concrete and chromatic shaper Marshalls is successful enactment to bargain the roofing specializer Marley for £535m.

The acquisition volition beryllium finalised if approved by a shareholder ballot connected 28 April.

Yorkshire-based Marshalls said the determination to get the roofing specializer was portion of the firm’s strategy to go the UK’s starring shaper of built-environment products.

Marley claims to beryllium the UK’s largest shaper of roofing tiles, with a 21 per cent marketplace share. In summation to tiling, it besides works successful aligned areas specified arsenic star powerfulness and decking. The firm's gross was £120.7m successful 2020, a twelvemonth successful which income were affected by the pandemic. In 2019, Marley turned implicit £143.5m.

The steadfast has been owned by backstage equity radical Inflexion since 2019. The investors said that if the woody went through, it would beryllium selling Marley astatine a instrumentality of 3.5 times its archetypal investment.

The woody successful the works is portion stock, portion cash. Of the £535m, Marshalls said it has financed £187m by selling shares, portion £184m volition beryllium borrowed. A definite fig of shares volition besides beryllium fixed to Inflexion.

Marshalls main enforcement Martyn Coffey described Marley arsenic a “highly profitable business” and a “strong taste fit” for the buyer’s company.

Inflexion managing spouse Simon Turner said: “Marley is simply a well-managed concern which provides a first-class product. The prime of its offering is highlighted by its resilience, with profits consistently increasing since our concern contempt the headwinds of Brexit and the pandemic. We would similar to convey the full squad for their hard enactment and commitment. We are assured that the concern volition proceed to spell from spot to strength.”

In September 2021, Marley’s owners had announced that the concern would perchance beryllium floated connected the banal market, with takeover targets besides identified to turn its offering.