Likewise Group has acquired key assets of its much larger rival Headlam out of administration for £14.9m, a deal it says makes it the UK’s biggest floor coverings distributor.
The AIM-listed company said it had bought Headlam’s freehold distribution centre at Thatcham, along with the trade and assets of two specialist flooring businesses, Crucial Trading and Concept Floors, and the principal intellectual property. Around 110 employees will transfer.
The deal was funded entirely from cash, following a £32.5m equity raise the company completed recently.
Headlam, listed on London’s main market and the UK’s largest flooring distributor, collapsed into administration in September. Likewise is buying assets only, not the company itself, and has separately agreed to help the administrators sell Headlam’s remaining stock over nine months through its own network.
The company said the acquisition strengthened its distribution network in southern England and broadened its brand portfolio, supporting its goal of reaching £300m of revenue in the medium term.
It said the deal would not materially affect this year’s profit but would contribute positively in 2027.
Tony Brewer, Chief Executive of Likewise Group plc, said: “The Acquisition is a key milestone for the Group as it now becomes the leading distributor of floor coverings in the UK.”
“The acquisition of the Thatcham Distribution Centre adds significant capacity to the growing Likewise distribution network and the purchase of well-known brands together with the Crucial Trading and Concept Floors businesses are very welcome additions. We look forward to welcoming our new colleagues, and to working with the administrators to give continuity to customers and suppliers.”