Ibstock plc
| Company type | Public limited company |
|---|---|
| Industry | Building materials |
| Predecessor | Ibstock Colleries Ltd |
| Founded | 1899 |
| Headquarters | Ibstock, Leicestershire , United Kingdom |
Area served | United Kingdom |
| Products | Clay bricks, concrete products |
| Owner | Public shareholders |
| Website | www |
Ibstock plc is a UK-based producer specializing in clay bricks and concrete products, with its headquarters located in Ibstock, Leicestershire. The company is publicly traded on the London Stock Exchange and forms part of the FTSE 250 Index.
History
The origins of the company trace back to brick manufacturing in the village of Ibstock. Founded in 1899 under the name Ibstock Colleries Ltd, its initial operations included coal mining, clay extraction, and brick production. By the 1930s, the focus had shifted predominantly to brick manufacturing.
In 1963, following the acquisition of Himley Brick Company based in Wolverhampton, the business, then known as Ibstock Brick and Tile Company Ltd, became a publicly listed entity. Throughout the 1960s and 1970s, it experienced significant growth, merging with Johnsen, Jorgensen & Wettre Ltd to establish Ibstock Johnsen Ltd. The company was among the first to offer specialized brickwork consultancy through Brickwork Design Centres located in key cities.
During the 1990s, Ibstock expanded by acquiring several firms, including terracotta manufacturer Hathernware Ltd and wet cast stone producer Ceba Ltd in 1990. Nevertheless, due to a recession-induced drop in demand, it undertook restructuring measures such as plant closures and reducing its workforce by 200 employees. By 1993, production volumes had increased by 10%, accompanied by intentions to raise prices on high-end products despite reporting a pre-tax loss of £18.7 million.
Improved market conditions in late 1994 and early 1995 enabled Ibstock to keep open a plant previously earmarked for closure and allocate £12 million towards rebuilding another facility. The company considered acquiring Tarmac Group’s UK brick division but subsequently reduced output and workforce as demand weakened again. In 1996, Ibstock purchased Redland plc’s brick operations for £160 million while selling off six factories to alleviate competitive pressures.
By March 1998, pre-tax profits had increased threefold to £23.5 million, largely attributable to the Redland acquisition. Later that year in December, international building materials group CRH acquired a controlling interest in Ibstock for £326 million. Early in 1999, Ibstock divested its holding in Portuguese firm Caima Ceramica e Servicos for £21.6 million and bought Hepworth’s brick division for £10.8 million.
In February 2015, US-based private equity firm Bain Capital completed a £414 million management buyout of Ibstock. The company returned to public markets in October 2015 with an approximate valuation of £770 million. Bain Capital sold its remaining 25% stake for £218 million in April 2017.