Banking club funds development of floorcoverings group

EUROPE’S largest distributor of floorcoverings, Coleshill-based Headlam Group, has replaced its current term facility with a new deal split between Barclays and HSBC.

The funding will allow the company to focus on its continued development over the next five years.
 
Headlam is involved with the marketing, supply and distribution of an extensive range of floorcovering products and has operations in the UK, France, Switzerland and the Netherlands.

This latest funding will be used to support growth in the UK and on the Continent and in particular, help drive the company’s continued outperformance of the UK market which, accounts for 88% of total revenue.
 
Steve Wilson, CEO of Headlam said: “We are delighted to have received the support of Barclays and HSBC. Their funding will assist with Headlam’s continued outperformance of the growth in the UK market and enable us to move our businesses in Continental Europe markets towards improved profitability.

“We are pleased that we have maintained our partnership with Barclays and look forward to establishing a new working relationship with HSBC.”
 
Jim Quantrill, Relationship Director at Barclays Corporate in the Midlands said: “We have enjoyed a longstanding relationship with the company and have a high regard for Headlam’s operating model and its ability to trade well through the economic cycle. We are pleased to be providing additional funding to help the company with its medium term objectives.”
 
Sean Horner, Relationship Director at HSBC commented: “We’ve been speaking with Headlam and their management team for many years to see how we could best support their growth ambitions.  They have a clear strategy for growth and we’re pleased to provide the support and funding that will be pivotal to their plans in the UK and Europe over the next five years.”
 
The transaction was supported by Pinsent Mason who acted for Headlam and Eversheds acted on behalf of Barclays and HSBC.