Sentio Partners has advised Endless LLP on the sale of Carpet and Flooring (Trading) Limited (“C&F”), one of the UK’s largest distributors of floor covering products, to Nestware Holdings Limited (“NHL”).
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.
NHL, part of Meditor Holdings Limited (“Meditor”), also owns a number of flooring businesses including Carpetright, the leading flooring retailer in the UK, Netherlands, Belgium and the Republic of Ireland, and FlooringSupplies.co.uk, an ecommerce flooring business.
James Woolley, Partner, Endless, commented: “We are proud to have supported Lisa, Jamie and the team over the course of the last 4 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 that 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 4 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.”
Rory Wade and Charlie Gray of Sentio Partners provided corporate finance advice to Endless LLP and the management team on the transaction, with Jonathan Asquez and Lisa Murphy of Gordons LLP providing legal advice.