Nottingham corporate finance advisory firm reveals role on cross-border deal

Nottingham-based Provantage Corporate Finance has revealed its role as lead advisor to the shareholders of the National Floorcoverings Group (NFG), a company specialising in the manufacture of textile floor coverings and sports surfaces from Liversedge and Rotherham, on its sale to multinational counterpart Nimbus.

NFG consists of four divisions Heckmondwike, Paragon, Playrite and Mat.Works and has been under family ownership for over 60 years. In that time NFG has been a major player the educational sector with its flagship fibre bonded product Supacord whilst continually developing and introducing new product lines to appeal to wider commercial offices and sports organisations.

The acquisition by Nimbus, the pan-European investor with offices in Munich, Zeist and Leeds represents the first UK acquisition from its new Fund V.

Andy Shepherd of Provantage said: “The Provantage team worked tirelessly on this project to ensure that we delivered an exceptional result to the shareholders.

“The transaction required a specialist buyer capable of taking on a complex asset spread across two manufacturing locations.

“We believe that Nimbus are the perfect fit for NFG and will undoubtedly assist in guiding them through the next stage of their journey”

The transaction was led day-to-day by Andy Shepherd with partner support from David Browne and Sally Saunders.