NEWS
“We welcome General Manager Jonny Peeters, Sales Manager Paul Hugo and their sales team. Together we can maximise the many opportunities before us.”
H&V sales in the year ending December 2018 were €7.07 million. The acquisition includes stock of €1.47 million and trade creditors to the corresponding value.
LIKEWISE COMPLETES FIFTH ACQUISITION WITH H&V CARPETS PURCHASE
Likewise, UK floorcoverings distributor, has made its fifth acquisition since its launch in 2018 with the purchase of H&V Carpets BVBA (H&V) in Belgium.
H&V is a supplier of full rolls of carpet to flooring retailers in the UK and Germany. This latest acquisition gives Likewise annualised sales revenue in excess of £35 million, up from £3 million 12 months ago.
TILE MOUNTAIN ACQUIRES WALLS & FLOORS
The Tile Mountain Group has acquired Kettering-based Walls and Floors, making the group one of the largest privately-owned tile retailers in the UK.
Established in 1987, Walls and Floors has grown to a company employing nearly 200 people with an annual turnover in excess of £30m. Its purchase by the Tile Mountain Group, spearheaded by Chairman Mo Iqbal and Managing Director Jeremy Harris, forms part of the pair’s expansion strategy that has seen the recent acquisition of Coventry-based Capitol Tiles and online retailer Tons of Tiles.
The move means that Tile Mountain has significantly increased its market share and is now a multi-faceted operation primed to compete in multiple markets including online, store-based retail, wholesale and contracts.
As part of the deal, Tile Mountain has also taken ownership of Walls
08 | Tomorrow’s Retail Floors
Tony Brewer, Chief Executive Officer of Likewise Group, said: “H&V will continue to operate from its facility in Meulebeke in Belgium with the stockholding, logistics and delivery to customers being enhanced through utilising the existing Likewise UK structure in Dewsbury, Sudbury, Glasgow, Daventry and Peckham.
“The acquisition of H&V provides an additional dimension to our UK activities and a platform to develop a business in continental Europe from the facility in Meulebeke.
and Floors’ retail, distribution, and specification divisions.
Tile Mountain Chairman Mo Iqbal said of the deal: “Over the years led by Richard and Duncan, Walls and Floors has developed into one of the major players in the UK tiling industry and I am excited about leading the company into the next phase of its growth.”
Walls and Floors’ strong online offering, coupled with its established brand footprint and positive customer sentiment, has been a key driver in the acquisition. Mr Harris and Mr Iqbal aim to develop the long-established firm further by utilising their expertise and Tile Mountain’s best-in-class IT resource, bolstering the impressive performance of the Tile Mountain brand itself.
Tile Mountain Managing Director Jeremy Harris said: “Walls and Floors has a significant supplier base and great customer loyalty, both online, across its distribution and contracts networks and in store. We’re relishing
working with suppliers and customers and developing opportunities further, with the ultimate goal of improving our offering across all our brands.”
www.tilemountain.co.uk www.tomorrowsretailfloors.com
Likewise has acquired the entire issued share capital of H&V for one euro, in addition to a ten year warrant for one million Likewise shares at 30p per share.
The company, launched in 2018 by former Headlam directors Tony Brewer and Andrew Simpson, includes Chief Financial Officer Roy Povey and Non- Executive Chairman Paul Bassi.
Since its launch, Likewise has acquired William Armes Ltd, Bruce Starke & Co Ltd, Lewis Abbott Ltd and Heatseam.
The business listed on The International Stock Exchange in Guernsey in January 2019.
www.likewiseplc.com
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