Ibstock has sold Glen-Gery to Brickworks
Headquartered in Reading, Pennsylvania, Glen-Gery Corporation (Glen-Gery) is a fully integrated clay to consumer brick manufacturer in North America. The company primarily operates in the Northeastern U.S. and sells 230 million bricks per year across an expansive mix of sizes, shapes, colors and textures for both residential and nonresidential end markets. Over Glen-Gery’s extensive 100+ year history, the company has developed entrenched customer relationships with hundreds of distributors and also serves builders, contractors, architects and developers directly through company-owned masonry distribution centers. For more information, please visit www.glengery.com.
“Lincoln was a valued partner throughout the transaction,” said Mark Richmond, Group Development Director of Ibstock. “Their extensive experience in the building products industry proved invaluable as they managed a global process to a successful conclusion.”
This transaction represents another important deal for Lincoln’s highly active building products team, which has now closed 40 merger and acquisition transactions globally since the beginning of 2015. “We were honored to work with Ibstock and Glen-Gery management on this successful transaction,” said Jeff Corum, head of building products at Lincoln. “Ibstock will now focus on their core markets in the United Kingdom, while Glen-Gery is the perfect first investment in the U.S. for Brickworks.”
Lincoln acted as the exclusive investment banking advisor for Ibstock and Glen-Gery in this transaction, working closely with the company’s management team throughout the sale process.
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