Equity investor completes sale of flooring products distributor
Leeds-based private equity investor, Endless LLP, has completed the sale of Carpet & Flooring (Trading) Limited (C&F) to Nestware Holdings Limited (NHL).
NHL, part of Meditor Holdings Limited, also owns a number of flooring businesses including flooring retailer Carpetright and FlooringSupplies.co.uk, an ecommerce flooring business.
C&F was established in 1992 and has grown into one of the largest distributors of floor covering products – stocking and distributing products from Europe’s leading flooring manufacturers. The business serves customers from 11 sites across England, Scotland and Wales.
James Woolley, partner at Endless, said: “We are proud to have supported Lisa, Jamie and the team over the course of the last four years.
“The company has undergone a successful transformation under Endless’ ownership and has invested significantly in the development of its internal systems and operations.
“Under NHL’s ownership, we strongly believe the business will go from strength to strength and create wider opportunities for growth and investment.
“We wish the management team, along with their new owners NHL, all the best for the future.”
Lisa Tomlin, CEO, C&F, said: “The management team are delighted to have worked alongside Endless for the last four years and they have backed us to deliver the transformation, which has resulted in this transaction today.
“We believe that joining NHL will allow us to take our growth and digital transformation to the next level.”
Wilf Walsh, chairman, NHL, added: “We’re pleased to be adding C&F into the Nestware group of companies and feel the business will sit well beside our current brands.
“We look forward to investing in the business, as we are doing with our other flooring companies, working with Lisa and her team to realise the excellent growth potential.”
Endless (James Woolley, Jon Duffy, Linda Nguyenova) and the management team were advised by Sentio Corporate Finance (Rory Wade, Charlie Gray) and Gordons (Jonathan Asquez, Lisa Murphy).
NHL was advised by Womble Bond Dickinson, led by Simon Watts.
