Thu, 06 Jul 2023 | BUSINESS SALE
Keswick Flooring, a subsidiary of Carpetright owner Nestware Holdings, has acquired online flooring retailer UK Flooring Direct (UKFD) in a pre-pack administration deal. The acquisition follows an accelerated sale process overseen by joint administrators Paul Meadows and Dan Smith of Teneo Financial Advisory and safeguards all 85 jobs at the Coventry-based company.
UKFD Ltd is one of the UK’s largest online flooring retailers, reporting turnover of £53.1 million in its most recent accounts at Companies House, to the year ending November 30 2020. The company offers a wide range of flooring options, including solid wood, laminate and vinyl tiling.
Joint administrator Paul Meadows commented: "I'm very pleased that, following an accelerated sale process run by our special situations M&A team, we have been able to secure a future for UK Flooring Direct.”
"The sale safeguards all of UKFD's 85 employees in Coventry and gives the business the strategic backing it requires to fulfil its ambitions. As part of the sale agreement, any outstanding customer orders will also be fulfilled."
The deal is the latest in a string of flooring market acquisitions by Nestware, following its takeovers of Keswick Flooring, Contemporary Trade Flooring, Flooring Megastore and floor covering products and accessories distributor Carpet & Flooring Limited.
Nestware CEO Kevin Barrett said that the acquisition of UKFD was “testament” to the group’s commitment to “transforming the way consumers and trade customers buy flooring across Europe.”
Keswick Flooring Chief Executive James Davey commented that the deal would create “an entity that is well-positioned to capitalise on” emerging trends in the online flooring retail market, including “convenience, service and value.”
UKFD Chief Executive Jason Ashby added that the deal would enable the company “to continue our long-standing heritage as a leading provider of flooring to the UK consumer and trade markets.”
Read about some of the latest trends in online business M&A.
This business is made up of a team of expert dog bakers that specialise in the creation of tasty treats for dogs. The bakery prides itself upon using dog-safe ingredients to create beautiful, handmade cookies, doughnuts, cakes, and muffins.
LEASEHOLD
With over 10 years of trading history, the business has built up a large base of over 1,750 protected and active business clients, whilst also gaining an excellent reputation in the sector.
RELOCATABLE
This is a well-founded, consistently profitable, and totally private business trading for over twenty years.
09
|
Nov
|
North West logistics firm to be acquired by Elanders in £100m+ deal | BUSINESS SALE
KAMMAC, a contract logistics firm based in the North West, i...
09
|
Nov
|
Anglian Windows to acquire Safestyle order book from administrators | BUSINESS SALE
Anglian Home Improvements (trading as Anglian Windows Ltd) h...
09
|
Nov
|
Water sector MEICA contractor acquired by Galliford Try at 5.4x profits | BUSINESS SALE
AVRS Systems, a specialist mechanical, electrical, instrumen...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.