NEWS
ABINGDON FLOORING OPENS CENTRE OF DEVELOPMENT & EXCELLENCE FOR CARPET
As part of a wide programme of investment, Abingdon Flooring has opened a Centre of Development & Excellence at its South Wales factory, providing state-of-the-art facilities for the development and testing of carpets.
Admired throughout the industry for the high-quality of its carpets, Abingdon Flooring has always placed products through ongoing testing throughout the product manufacturing cycle, with the new centre representing the manufacturer’s commitment to continuing this policy, as well as developing new styles.
One of the key additions within the centre is a precision Modra Mtuft sampling machine that allows Abingdon Flooring to create samples of varying stitch rates, gauges and constructions; giving high-levels of flexibility and facilitating the rapid prototyping of new styles. Replicating the capabilities of many production tufting machines, the Mtuft can create samples with up to eight colours in as little as 20 minutes.
FORMER HEADLAM DIRECTORS PARTNER WITH BIRMINGHAM INVESTOR FOR NEW VENTURE
Two former Headlam directors have teamed up with Birmingham investor Paul Bassi to launch a new UK floorcoverings distributor, Likewise Group plc.
Likewise Group plc is the brainchild of Coleshill-based former Headlam directors, Tony Brewer and Andrew Simpson.
The Likewise board includes Chief Executive Officer Tony Brewer, Non- Executive Chairman Paul Bassi, Chief Financial Officer Roy Povey and Non- Executive Director Andrew Simpson. They will be supported by an executive board and an advisory board.
The business has been listed on 06 | Tomorrow’s Retail Floors
The International Stock Exchange in Guernsey, raising £7 million which it intends to use for future acquisitions in the sector. Based on the issue price of the shares, Likewise has a market capitalisation of £12 million.
The Centre of Development & Excellence also houses a fully-equipped testing laboratory for on-going quality control, as well as areas dedicated to trend analysis and R&D. Alongside significant investment in new tufting machines and a backing line, the centre is ready to ensure that Abingdon Flooring can respond quickly to market demands.
Steve Byrne, Managing Director at Abingdon Flooring, commented: “The Centre of Development & Excellence
represents a significant step forward for the expansion of carpets from Abingdon Flooring, giving us the perfect environment to try out new styles, quickly and easily committing them to samples. The difference the centre is already making to our product development cycle is considerable and, with a fully-equipped laboratory, we can continue our reputation for consistent high-quality across all our ranges.”
www.abingdonflooring.co.uk
Prior to the listing, Likewise had acquired the entire share capital of William Armes Ltd and the trade and assets of Bruce Starke & Co Ltd which have been fully integrated into the group.
CEO Tony Brewer said: “We are very pleased to have listed on TISE. We already have a team with huge experience in the UK and European floorcoverings market and worldwide manufacturer relationships, as well as two existing distribution centres.
“The benefit of £7 million cash raised and potential access to further funds puts us in a very strong position to be able to make further acquisitions which will enable us to consolidate the distribution section of the floorcoverings market to gain national scale.
“Ultimately, we believe that this puts us in a position to expand Likewise into a meaningful flooring business.”
www.tomorrowsretailfloors.com
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