UK façade specialist Clear Line sold for £120m

UK façade specialist, Clear Line, has been acquired by Fasadgruppen Group, in Sweden, for close to £120 million. 

Sheffield-headquartered Clear Line has around 60 full-time employees, most of whom work in project management, construction, and design.   

Established in 1997, the building envelope contractor has in recent years completed many complex property fire remediation projects in the UK, strengthening its market position and earnings. 

For the year ended 30 June 2024, Clear Line generated net sales of approximately £48.9 million, with an adjusted EBITA of approximately £21.7 million. 

In the last three financial years, Clear Line averaged net sales of £47.7 million, with an adjusted EBITA of £18.4 million. 

Fasadgruppen said the acquisition positions it for “future consolidation and growth” within the UK façades market, estimated to be worth around £10.5 billion per year. 

Legal  

Fasadgruppen retained Grant Thornton as financial, tax and commercial advisor, Burges Salmon as legal advisor in the UK, and Gernandt & Danielsson Advokatbyrå as legal advisor in Sweden. 

The acquisition arrangement consists of a cash consideration of £51.1 million, loan notes of £15.3 million which Clear Line has agreed to offset against new shares in Fasadgruppen, and shares in a newly formed UK company valued at £53.4 million. 

Martin Jacobsson, CEO of Fasadgruppen, said: “In Clear Line, we have found a unique player with a proven business model that has built an excellent market position in its clear niche and thereby achieved an attractive financial profile.  

“The company’s total solution, which helps the customer all the way from planning to execution and documentation with the support of a sophisticated IT platform, has made Clear Line a sought-after contractor among property owners who need to upgrade their facades.  

“We are confident about Clear Line’s growth opportunities and look forward to our future expansion with Clear Line as one of our bright shining stars.” 

Peter Hebb, managing director of Clear Line, said: “In seeking new ownership, we sought to find a committed owner who understands and has the same passion for the building envelope industry as we do, we also sought scale that matches our ambitions. 

“In both regards, Fasadgruppen provides a perfect fit for Clear Line. With their support we can expand our offering to larger portfolios where turnover limits might otherwise preclude such expansion, enabling us to access more projects with both existing and new clients in the UK.” 

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