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NEWS


quoted UK business which distributes floorcoverings throughout Europe.


The Likewise board includes Tony Brewer, Chief Executive Officer, Non- Executive Chairman Paul Bassi, Chief Financial Officer Roy Povey and Non- Executive Director Andrew Simpson. They are supported by an executive board and an advisory board.


LIKEWISE GROUP COMPLETES FOURTH ACQUISITION DEAL SINCE LAUNCH


Likewise Group plc has completed its acquisition of Heatseam, distributor of residential flooring products in England and Scotland.


The purchase is Likewise’s fourth acquisition since its launch in late 2018. The West Midlands-based plc has paid £7.5 million, with a further £500,000 payable in one year. Two million shares have been issued to the vendor, Glen Toomes, the sole shareholder in Heatseam.


Likewise has issued 30 million new shares, raising £7.5 million before expenses, and trading in the company’s shares has recommenced on The


V4 WOOD FLOORING OPENS NEW £3M DESIGN CENTRE


V4 Wood Flooring has opened the doors of its new £3 million design centre in Woking.


The innovative and exciting 6,000 sq. ft ‘V4 World’ enables the company to showcase its luxury flooring products and wall panels to customers, architects, specifiers and designers in settings that demonstrate how the products can give homes the wow-factor.


It also features the innovative and on- trend Concreate floor and wall panels and the Panneau decorative wooden wall panel collection, both of which are a favourite of interior designers.


The showroom is the first phase of the company’s ambitious growth plans, which will also see the opening of a showroom in Clerkenwell, followed by a centre in the north of England, with Manchester


twitter.com/TRetailFloors International Stock Exchange (TISE).


Heatseam’s distribution hub is in Dewsbury with two outbases in Daventry and Glasgow. Its product portfolio includes carpet, vinyl, laminate, artificial grass and accessories.


Likewise’s Chief Executive Officer, Tony Brewer, said: “Consistent with our stated strategy when initially listing on TISE in January 2019, the acquisition gives Likewise scale and a distribution infrastructure to develop a meaningful floorcovering business in both the residential and commercial markets.


“We plan further acquisitions to augment the intended organic growth in UK flooring distribution.”


Likewise Group plc was set up by Tony Brewer and Andrew Simpson, former directors of Headlam, the


an option under consideration.


The new centres will also support the dealer network with a wider range of large samples for customers to view and product training facilities, including the fitting of the various floor and wall products.


Chris Vincent, Managing Director of V4 Wood Flooring, said: “It is important that architects, interior designers and specifiers are able to see the products in a setting that has been specially designed to bring to life the creative possibilities of our cutting- edge floor and wall solutions.


“We believe we have created a unique space for design professionals and


Prior to the listing on TISE, 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.


It then acquired Lewis Abbott Ltd, a floorcoverings distributor based in Peckham in south east London, for £1 million in cash with a further £200,000 payable in 12 months’ time.


Since listing on TISE in January 2019, the company has established Likewise South East trading brand in Sudbury, initially to distribute commercial products which can be extended to residential. The Likewise Trading brand has also started supplying principally rugs and mats to retailers throughout the UK.


www.likewiseplc.com


customers to visit and view everything from our latest bespoke flooring collections that deliver the ultimate palette of wood floor finishes, colours and size options, alongside the established stocked V4 collections.”


www.v4woodflooring.co.uk Tomorrow’s Retail Floors | 07


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