Wed, 15 Dec 2021 | BUSINESS SALE
Flooring firm Likewise Group has entered an agreement to acquire Kent-headquartered Valley Wholesale Carpets in a deal that could reach £30 million. The potential fee would represent a multiple of around 5.2x Valley Wholesale’s £5.7 million EBITDA for the year ending September 30 2021.
This EBITDA represents approximately an 89 per cent increase on the previous year, driven by Valley Wholesale’s revenue rising 32 per cent to £47.3 million. At the time, the company total assets less liabilities were valued at £24.7 million.
Through the acquisition, Likewise Group will be able to significantly grow its presence in the South East and Midlands and boost its logistics network within the UK. The company says the acquisition will see it increase its share of the UK’s £1.9 billion flooring market to around 5.6 per cent.
The deal involves a £24 million initial consideration, payable upon completion, as well as a £1 million deferred consideration and the issuing of five million ordinary shares in the group.
Likewise Group Chief Executive Tony Brewer said: "The Likewise Team have made significant progress over the last 18 months and the acquisition of Valley Wholesale Carpets is a major additional step forward in the aspirations of Likewise to develop a meaningful flooring distribution business throughout the UK.”
“Many thanks to our management and staff for their contribution and efforts in addition to the support of our suppliers, customers and shareholders to enable the development of Likewise to date and we look forward to an exciting future.”
“We also welcome the management and Staff of Valley Wholesale Carpets and whilst being an autonomous business it will very much form part of Likewise and our future. We also give our best wishes to Stephen, David, Kate and the Mitchell family for the future.”
Find businesses for sale here.
If you are looking for an exit, we can help!
Specialises in the provision of polymer injection moulding, incorporating a comprehensive range of services, including engineering and assembly.
LEASEHOLD
An opportunity has arisen to acquire a company that designs and manufactures high-quality beauty and spa products, own-brand false eyelashes, cosmetics bags, stuffed toys, and many other bespoke goods.
RELOCATABLE
Manufactures a comprehensive range of premium ceramic products, with the business primarily specialising in porcelain decanters for blue-chip clients in the spirits industry. Diversifies its revenue streams by offering a variety of complementary cera...
LEASEHOLD
|
23
|
|
Sep
|
E-commerce software firm acquired at 11.5x EBITDA | BUSINESS SALE
Grafenia Plc, a listed business that operates a buy-and-buil...
|
22
|
|
Sep
|
August sees highest number of UK insolvencies this year | BUSINESS NEWS
A new analysis by risk and financial advisory firm Kroll has...
|
21
|
|
Sep
|
Welsh life sciences firm set to be acquired by US biopharmaceutical company | BUSINESS SALE
Welsh life sciences firm Diurnal is set to be acquired by US...
Sign up to receive our acquisition alert emails to get your FREE guide
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