Acquisition means Birmingham floorings firm now has North West covered
A Worsley-based flooring specialist has been acquired in a deal worth almost £854,000.
A&A Carpets is a distributor of residential flooring to retailers in the North West.
The firm has been bought by Birmingham-based Likewise, whose chief executive, Tony Brewer, said: “The acquisition of A&A is another step in developing Likewise into a meaningful player in the UK flooring market.
“It significantly increases our presence and logistics capability in the North West.”
In his role of general manager, Chris Melling will be responsible for A&A, reporting to Tony Brewer.
Likewise director Adrian Laffey will initiate the product development and marketing in conjunction with Chris Melling and Tony Brewer.
A&A Carpets’ unaudited sales for the 12 months to December 31, 2019 were £8.6m, with unaudited pre-tax profits of £100,000.
Likewise has paid £853,770 for the business, subject to verification by completion accounts.
Since its formation and first acquisition in 2018, Likewise has made now made five further acquisitions in addition to establishing four new businesses.
Annual sales generated by a sales team of 61 people is now well in excess of £60m.
This is supported by distribution centres in Dewsbury, Manchester and Sudbury, with service centres in Glasgow, Newcastle, Daventry and Peckham.
With the benefit of new trucks being delivered, the group will have 55 commercial vehicles providing residential and commercial flooring customers with a next-day service.
The business was founded by the former directors of Headlam Group, Tony Brewer and Andrew Simpson, and the Likewise board also includes non-executive chairman Paul Bassi and chief financial officer Roy Povey.
Now based at Topaz Business Park, Bromsgrove, just off the Junction 1, M42 link into the national motorway network, Likewise listed on The International Stock Exchange in January 2019 in order to provide the management team, which has extensive experience in the floor coverings industry, with access to capital in order to grow into a major player in the UK.