Likewise buys key belongings of collapsed rival Headlam for £14.9m

Likewise Group has acquired key belongings of its a lot bigger rival Headlam out of administration for £14.9m, a deal it says makes it the UK’s largest flooring coverings distributor.

The AIM-listed firm mentioned it had purchased Headlam’s freehold distribution centre at Thatcham, together with the commerce and belongings of two specialist flooring companies, Crucial Trading and Concept Floors, and the principal mental property. Around 110 workers will switch.

– Advertisement –

The deal was funded solely from money, following a £32.5m fairness increase the corporate accomplished just lately.

Headlam, listed on London’s major market and the UK’s largest flooring distributor, collapsed into administration in September. Likewise is shopping for belongings solely, not the corporate itself, and has individually agreed to assist the directors promote Headlam’s remaining inventory over 9 months by its personal community.

The firm mentioned the acquisition strengthened its distribution community in southern England and broadened its model portfolio, supporting its purpose of reaching £300m of earnings within the medium time period.

It mentioned the deal wouldn’t materially have an effect on this 12 months’s revenue however would contribute positively in 2027.

Tony Brewer, Chief Executive of Likewise Group plc, mentioned: “The Acquisition is a key milestone for the Group because it now turns into the main distributor of flooring coverings within the UK.”

“The acquisition of the Thatcham Distribution Centre provides vital capability to the rising Likewise distribution community and the acquisition of well-known manufacturers along with the Crucial Trading and Concept Floors companies are very welcome additions. We sit up for welcoming our new colleagues, and to working with the directors to offer continuity to prospects and suppliers.”