International Stock Exchange-listed floor coverings distributor makes third acquisition since launch

Likewise Group, which was launched last year by two former directors of Coleshill-based Headlam Group alongside Birmingham investor Paul Bassi, has completed its third acquisition.

The comapny has purchased Lewis Abbott, a floor coverings distributor based in Peckham in south east London for £1m in cash with a further £200,000 payable in 12 months time.

It follows Likewise Group’s listing on the International Stock Exchange in Guernsey, raising £7m for future acquisition.

Prior to the listing, Likewise had acquired the entire share capital of William Armes and the trade and assets of Bruce Starke & Co, which have been fully integrated into the group.

Tony Brewer, chief executive of Likewise Group, said: “This is the first move by Likewise into mainstream flooring distribution.

“Katie Cohen, daughter of the previous owner, Paul Cohen, will head the business in conjunction with Likewise executives James Kellett and Adrian Laffey.

“Together they will build the Lewis Abbott business, developing its current activity in residential flooring and expanding into commercial flooring, supplying trade customers inside the M25.

“We would like to thank Paul Cohen and wish him and his family well in his retirement.”

Likewise Group was set up by Tony Brewer and Andrew Simpson.

Alongside Brewer, Simpson and Bassi, the board also includes chief financial officer Roy Povey.