Farleys advises on £6.25m FabSpeed sale alongside Pierce

By Farleys Solicitors LLP

29 Nov 2022

North West law firm Farleys Solicitors has worked alongside Pierce Accountants to advise the shareholders of the UK’s largest independent brick fabricator on the sale of its entire share capital to Michelmersh Brick Holdings.

FabSpeed was created following the merger of LiteSpeed and Fab-Lite in 2021 (Farleys Solicitors and Pierce both advising on this previous deal) and is a manufacturer of pre-fabricated building products, focussing on bespoke, complex and specialist products such as chimneys, arches, canopies and dormers.

The business employs 89 people and operates from three locations in West Yorkshire and Oxfordshire. The longstanding management team will transfer with the business.

The deal was worth an initial £6.25m on a cash-free and debt-free basis, and is subject to target working capital adjustments. There is potential for an additional deferred consideration of up to £2m based on achieving future adjusted EBITDA growth targets over two financial years.

Chris Penston and Mark Richards, directors of FabSpeed commented: “We are delighted to join the Michelmersh Group. Our portfolio of innovative prefabricated brick products will add diversity and complement their existing premium range, making Michelmersh the specialist one-stop manufacturer for all brick requirements. "This opportunity enhances our Nationwide coverage by integrating fabrication facilities within the existing brick manufacturing sites, adding capacity, flexibility and growth. We look forward to exciting times ahead.”

Corporate law advice on the deal was provided to the shareholders of FabSpeed by Richard Bell of Farleys with assistance from Jodi Oosthuizen. Commercial property work was completed by Ian Liddle of Farleys with assistance from Ross Liddle. Tom Wilkinson of Pierce Chartered Accountants brokered the deal and provided accountancy, tax and general business advice.

Richard Bell, corporate lead at Farleys, commented: "It was a pleasure to work with the shareholders of Fabspeed Holdings Ltd and Tom Wilkinson at Pierce who all worked hard as a team to get this deal completed.

"Fabspeed Holdings Ltd is a solid business and a clear fit within the buyer’s group offering. I wish the shareholders all the best for the future as well as the capable management team that will continue to build on Fabspeed’s success as part of the buyer’s expanding group."

Tom Wilkinson, director of Pierce, added: “I am absolutely delighted for the shareholders of FabSpeed on the disposal of the group to Mickelmersh Brick Holdings Plc. Since we acted on merging two respective regional businesses less than two years ago, it’s amazing how quickly the group has gone from strength to strength to the business and leading industry brand of today! A testament to the directors and wider leadership team and we look forward to seeing the group now be taken to the next level.”

Latest news

1

Post Office future secured as council explores new options Abington Street Post Office

Post Office future secured as council explores new options

17 Sep 2025

2

Airframe Designs supports new defence strategy with pledge to nurture talent Jerrod Hartley

Airframe Designs supports new defence strategy with pledge to nurture talent

17 Sep 2025

3

Fox Group makes second acquisition since Stellex Capital backing Roger Thistlethwaite, managing director NMS Civil Engineering Limited. Paul Fox, CEO Fox Group. John Flood, Executive Director Fox Group

Fox Group makes second acquisition since Stellex Capital backing

17 Sep 2025

4

Villa at Wrea Green bought for £3.6m by Haythornthwaite family The Villa Wrea Green courtesy of The Villa Wrea Green

Villa at Wrea Green bought for £3.6m by Haythornthwaite family

16 Sep 2025

5

Fourth Lancashire Bodycare store to shut Nick Holloway of administrators Interpath

Fourth Lancashire Bodycare store to shut

16 Sep 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
Sub36 Networking - Follow the signs
Sub36 Deaf Village Social1200
Networking
17 Sep 2025

Sub36 Networking - Follow the signs

The Deaf Village, Blackburn, BB2 5EN

10:00 - 12:00

LBV124 September/October Launch Event
MBP Arc Cinema Preston Opening 205
Networking
18 Sep 2025

LBV124 September/October Launch Event

The Arc Cinema, Preston, PR1 2BL

08:30 - 10:30

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

The Business Network Central & East Lancashire
LBV Hub Networking
17 Sep 2025 - 17 Sep 2025

The Business Network Central & East Lancashire

Stanley House, Blackburn, BB2 7NP

11:30 - 14:15

Business Breakfast Networking Event
business workshop photo.png.png
LBV Hub Networking
17 Sep 2025 - 17 Sep 2025

Business Breakfast Networking Event

Media Factory, University of Lancashire, Preston, PR1 2HE

08:00 - 10:30

Ladies Lunch
Lancs-cham-logo.jpg.jpg
LBV Hub Networking
18 Sep 2025 - 18 Sep 2025

Ladies Lunch

Lancaster Golf Club, Lancaster, LA2 0AJ

12:00 - 16:00

Cumbria Business Expo 2025
https---cdn.evbuc.com-images-880461633-4862066883-1-original.20241022-110415.jpeg.jpg
LBV Hub Exhibitions
19 Sep 2025 - 19 Sep 2025

Cumbria Business Expo 2025

Carlisle Racecourse, Carlisle, CA2 4TS

09:00 - 15:00

Your Business, Your Region: Making sense of devolution and Local Government Reorganisation
Chorley Council breakfast event new
LBV Hub Networking
23 Sep 2025 - 23 Sep 2025

Your Business, Your Region: Making sense of devolution and Local Government Reorganisation

Worden Hall, Leyland, PR25 3DH

08:00 - 11:00

Preston Freelancer Meet-Up: September
Sept Freelancer (1).png.png
LBV Hub Networking
23 Sep 2025 - 23 Sep 2025

Preston Freelancer Meet-Up: September

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Speed Networking with BNI
2.png.png
LBV Hub Networking
24 Sep 2025 - 24 Sep 2025

Speed Networking with BNI

Chorley Football Club, Chorley, PR7 3DU

16:00 - 19:00

The Marketing Meetup IRL: Lancashire - September
TMM Lancashire
LBV Hub Networking
25 Sep 2025 - 25 Sep 2025

The Marketing Meetup IRL: Lancashire - September

Chorley, PR7 2SL

18:00 - 20:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV124 Online Graphic
Subscribe now

Weekly news bulletin