Acquisition: Likewise Group Plc (AIM)
Likewise Group plc (Likewise), a UK distributor of residential and commercial flooring to retailers and contractors, announces that it has entered into a conditional agreement to acquire the entire issued share capital of Valley Wholesale Carpets (2004) Limited (Valley), a UK-based distributor and wholesaler of carpets, for a maximum consideration of £30 million.
Valley, founded in 1982, is a distributor and wholesaler of carpets to independent retailers across the UK. It has a strong presence in the South East of England and the Midlands, with two principal distribution centres in Erith and Derby.
The acquisition will increase Likewise’s share of the UK flooring market to approximately 5.6% of the £1.9 billion UK industry, boosting Likewise’s position as one of the leaders in the UK market.
Crowe's role and team
Crowe acted as the financial and tax due diligence advisors on the transaction. Our transaction services team was led by Mitesh Patelia, Peter Varley, Will Smith and Ashley Sofocleous.
Client quote
"Once again, the Crowe team provided proactive and invaluable advice - and enabled us to execute our M&A strategy efficiently."
Tony Brewer, Chief Executive Officer, Likewise Group Plc
