The sale agreement comes just a few months after Marley’s private equity owners scrapped plans for a stock market flotation.
Marshalls’ board believes that buying Marley from Inflexion Private Equity will accelerate its plan to become the UK’s leading manufacturer of building products within the next five years.
Marley extends Marshalls into the pitched roofing market. Its concrete and clay roof tiles, roof fittings, timber battens, solar panels and roofing accessories are a good fit with Marshalls block paving and street furniture business.
The plan is to keep Marley as a standalone entity under its existing management.
Marshalls chief executive Martyn Coffey said: “The acquisition of Marley represents a significant step towards achieving our strategic goal to become the UK’s leading manufacturer of products for the built environment.
“Marley is a highly profitable business with established market positions across UK RMI and new build housing. Much like Marshalls, its position is underpinned by a track record of product quality and customer service, and we believe Marley will represent a strong cultural fit with our own business.”
Marley chief executive David Speakman said: “Marley is a robust business with a strong future ahead of it. As part of the Marshalls family, I believe we will be extremely well-positioned to continue our growth strategy to the benefit of our colleagues, customers and partners.”
Marley Group announced its intention to float on the London Stock Exchange on 23rd September 2021, with the expectation of raising £75m for the business. On 12th October its owners decided to postpone flotation, citing market volatility. [See our previous report here.]