Ibstock plc

File:Quarry at Ibstock - geograph.org.uk - 373352.jpg]]

The company originates in the brickmaking trade within the village of Ibstock in Leicestershire.{{cite web |url = https://www.theconstructionindex.co.uk/company/Ibstock-Brick-Limited/22880 |title = Ibstock Brick Limited |website = theconstructionindex.co.uk |access-date = 24 February 2025}} It was originally registered in 1899 as Ibstock Colleries Ltd, being initially focused on coal mining; other early business interests included clay extraction and brick manufacturing. By the 1930s, brick production had gradually taken precedence over coal.{{cite web |url=https://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/11896761/Ibstock-builds-IPO-hopes-on-UK-brick-shortage.html |title=Ibstock builds IPO hopes on UK brick shortage |publisher=The Telegraph |first = Ashley |last = Armstrong |date=28 September 2015 |access-date=6 December 2015}}

In 1963, shortly after completing the acquisition of the Wolverhampton-based Himley Brick Company, the Ibstock Brick and Tile Company Ltd became a publicly traded company. The firm expanded rapidly during the 1960s and 1970s, particularly following its amalgamation with Johnsen, Jorgensen & Wettre Ltd to become Ibstock Johnsen Ltd; various new brick-making facilities were established along with associated services. The firm was the first brick manufacturer to provide specialist brickwork design advice through its Brickwork Design Centres that were setup at many major cities.

Throughout the 1990s, the company completed several acquisitions. In 1990 alone, Ibstock acquired the terracotta specialist Hathernware Ltd and the wet cast stone producer Ceba Ltd. However, amid depressed demand in the Early 1990s recession,{{cite web |url = https://www.constructionnews.co.uk/sections/news/05oct90-uk-ibstock-johnsen-shows-half-year-pretax-profit-of-22-2-million-04-10-1990/ |title = 05Oct90 UK: IBSTOCK JOHNSEN SHOWS HALF YEAR PRETAX PROFIT OF £22.2 MILLION |website = constructionnews.co.uk |date = 4 October 1990}} the company underwent restructuring, closing several of its plants and shedding 200 jobs.{{cite web |url = https://www.independent.co.uk/news/business/ibstock-johnsen-sheds-200-jobs-1473546.html |title = Ibstock Johnsen sheds 200 jobs |publisher = The Independent |first = Heather |last = Connon |date = 17 February 1993}}{{cite web |url = https://www.constructionnews.co.uk/sections/news/15oct92-uk-five-ibstock-brick-plants-likely-to-shut-15-10-1992/ |title = 15Oct92 UK: FIVE IBSTOCK BRICK PLANTS LIKELY TO SHUT |website = constructionnews.co.uk |date = 15 October 1992}} By April 1993, the firm had observed a 10 percent rise in volumes and was openly planning to implement price rises on its higher-end product lines,{{cite web |url = https://www.constructionnews.co.uk/sections/news/22apr93-uk-volumes-up-at-ibstock-annual-results-22-04-1993/ |title = 22Apr93 UK: VOLUMES UP AT IBSTOCK – ANNUAL RESULTS |website = constructionnews.co.uk |date = 22 April 1993}} although the firm did still record pre-tax loss of £18.7 million for that year.{{cite web |url = https://www.constructionnews.co.uk/sections/news/21apr94-uk-ibstock-hit-by-shake-up-costs-heavy-reorganisation-costs-kept-brickmaker-ibstock-johnsen-in-the-red-last-year-with-a-pre-tax-loss-of-18-7-million-1992-27-6-million-loss-the-21-04-1994/ |title = 21Apr94 UK: IBSTOCK HIT BY SHAKE-UP COSTS. Heavy reorganisation costs kept brickmaker Ibstock Johnsen in the red last year with a pre-tax loss of £18.7 million (1992: £27.6 million loss) |website = constructionnews.co.uk |date = 21 April 1994}}

In December 1994, it was announced that, in account of strengthening customer demand, one of the Ibstock's plants that had been facing closure would instead be retained;{{cite web |url = https://www.constructionnews.co.uk/sections/news/24nov94-uk-strong-brick-demand-saves-ibstock-works-24-11-1994/ |title = 24Nov94 UK: STRONG BRICK DEMAND SAVES IBSTOCK WORKS |website = constructionnews.co.uk |date = 24 November 1994 }} one month later, the firm announced a £12 million rebuild of one of its works to improve its margins.{{cite web |url = https://www.constructionnews.co.uk/sections/news/12jan95-uk-ibstock-sets-the-pace-with-a-12m-rebuild-12-01-1995/ |title = 12Jan95 UK: IBSTOCK SETS THE PACE WITH A £12M REBUILD |website = constructionnews.co.uk |date = 12 January 1995}} During April 1995, Ibstock reportedly approached Tarmac Group with the aim of purchasing its UK brick business.{{cite web |url = https://www.constructionnews.co.uk/sections/news/ibstock-eyes-move-on-tarmacs-bricks-13-04-1995/ |title = Ibstock eyes move on Tarmacs bricks |website = constructionnews.co.uk |date = 13 April 1995 }} However, later that same year, the firm decided to cut production and enact another round of job cuts amid weakening demand.{{cite web |url = https://www.constructionnews.co.uk/sections/news/jobs-go-as-ibstock-cuts-production-19-10-1995/ |title = Jobs go as Ibstock cuts production |website = constructionnews.co.uk |date = 19 October 1995}} During 1996, Ibstock acquired the brick manufacturing business of the distressed building materials company Redland in exchange for £160 million;{{cite web |url=https://www.independent.co.uk/news/business/french-losses-and-strong-pound-cost-redland-dear-1275483.html |title=French losses and strong pound cost Redland dear |work= The Independent |date=28 March 1997 |first = Tom |last = Stevenson |access-date=6 December 2015}}{{cite web |url = https://www.constructionnews.co.uk/sections/news/redland-takeover-bid-under-oft-spotlight-02-05-1996/ |title = Redland takeover bid under OFT spotlight |website = constructionnews.co.uk |date = 2 May 1996 |first = Bill |last = Fishlock}} around the same time, it also sold six of its existing factories to ease concerns pertaining to competition.{{cite web |url = https://www.constructionnews.co.uk/sections/news/ibstock-heeds-lang-and-sells-six-factories-16-07-1996/ |title = Ibstock heeds Lang and sells six factories |website = constructionnews.co.uk |date = 16 July 1996}}{{cite web |url = https://www.constructionnews.co.uk/sections/news/forced-sale-creates-new-brickworks-13-03-1997/ |title = Forced sale creates new brickworks |website = constructionnews.co.uk |date = 13 March 1997}}

During March 1998, Ibstock recorded annual pre-tax profits of £23.5 million, a three-fold increase over the year prior; this was largely attributed to the Redland Brick acquisition.{{cite web |url = https://www.constructionnews.co.uk/sections/news/ibstocks-big-brick-boost-26-03-1998/ |title = Ibstock’s big brick boost |website = constructionnews.co.uk |date = 26 March 1998 }} In December of that year, the international building materials firm CRH purchased a majority stake in Ibstock in exchange for £326 million;{{cite web |url=https://www.independent.co.uk/news/business/crh-swoops-on-ibstock-in-pounds-326m-deal-1193897.html |title=CRH swoops on Ibstock in pounds 326m deal |work=The Independent |first = Peter Thal |last = Larsen |date=22 December 1998 |access-date=6 December 2015}}{{cite web |url = https://www.constructionnews.co.uk/sections/news/austrian-giant-snaps-up-block-of-ibstock-29-10-1998/ |title = Austrian giant snaps up block of Ibstock |website = constructionnews.co.uk |date = 29 October 1998 |first = Bill |last = Fishlock}}{{cite web |url = https://www.constructionnews.co.uk/sections/news/crh-comes-to-brick-makers-rescue-with-unconditional-offer-for-ibstock-07-01-1999/ |title = CRH comes to brick maker’s rescue with unconditional offer for Ibstock |website = constructionnews.co.uk |date = 7 January 1999}} Two months later, the firm sold its stake in the Portuguese building materials firm Caima Ceramica e Servicos for £21.6 million.{{cite web |url = https://www.constructionnews.co.uk/sections/news/in-brief-ibstock-disposal-25-02-1999/ |title = In Brief: Ibstock disposal |website = constructionnews.co.uk |date = 25 February 1999 }} In July 1999, it acquired the brick operations of Hepworth via a £10.8 million deal.{{cite web |url = https://www.constructionnews.co.uk/sections/news/ibstock-shows-its-strength-with-hepworth-brick-deal-08-07-1999/ |title = Ibstock shows its strength with Hepworth brick deal |website = constructionnews.co.uk |date = 8 July 1999 }}

During February 2015, Ibstock was acquired by the US-based private investment specialist Bain Capital as part of a £414 million management buyout; it was then the subject of an initial public offering, which valued the firm at around £770 million, during October 2015.{{cite web |url = https://iflr1000.com/Deal/Profile/3567#undefined |title = Ibstock LSE IPO |website = iflr1000.com |access-date = 24 February 2025}}{{cite web |url = https://www.standard.co.uk/business/jim-armitage-ibstock-doubles-in-value-in-just-seven-months-really-a2957376.html |title = Jim Armitage: Ibstock doubles in value in just seven months |publisher = London Standard |date = 28 September 2015}} Bain Capital divested its remaining 25 per cent stake in Ibstock in exchange for £218 million in April 2017.{{cite web |url = https://www.insidermedia.com/news/midlands/Investment-firm-exits-Ibstock |title = Investment firm exits Ibstock |website = insidermedia.com |first = Storm |last = Rannard |date = 26 April 2017}}{{cite web |url = https://www.globalcapital.com/article/28mt15zr6yvu37nc60hs0/abbs-block-trades/bain-cuts-97m-of-ibstock-stake-this-time-above-ipo-price |title = Bain cuts £97m of Ibstock stake, this time above IPO price |first = Aidan |last = Gregory |website = globalcapital.com |date = 10 March 2017}}

{{Reflist}}

• [http://www.ibstock.co.uk Official site]

{{FTSE 250 Index constituents}}

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Category:Manufacturing companies established in 1899

Category:Companies based in Leicestershire

Category:1899 establishments in England

Category:Bain Capital companies

Category:Companies in the FTSE 250 Index

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