Ibstock has announced that it has acquired a 75% stake in Generix Façades Ltd, a UK supplier of non-combustible façade systems.
The acquisition represents a further strategic step in broadening the range of façade systems offered by Ibstock Futures, as the construction market seeks lower carbon, non-combustible forms of cladding for use in the mid-high rise and modular market segments.
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.
The cost of the investment in Generix is small, at around .£1 million, but the company's board believes that the business has the potential to grow significantly within the Ibstock group.
Generix, which was formed in 2013 in Bloxwich in the West Midlands, produces three types of façade systems: Generix-Lite (natural stone panels), Infinity (ceramic panels), and Genbrix (mechanically fixed brick-slip cladding.)
Co-founder and Managing Director, John Nolan, will remain in his role and retain the minority shareholding in Generix.
Jeremie Rombaut, Managing Director of Ibstock Futures, commented: “Generix represents an important strategic step for Ibstock Futures, with a new systems offering into the fast-growing sectors of the UK facades 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.”
