Nestware Holdings (NHL), part of the Meditor Group which took over the Carpetright chain in 2019, has completed the acquisition of Carpet & Flooring (Trading).
It’s the latest in a string of investments for Meditor, following its purchase of Contemporary Trade Flooring and Flooring Megastore last month, and online hard flooring specialist FlooringSupplies.co.uk six months ago.
The brand addition further expands NHL’s position in the contract and B2B flooring market and is said to present ‘excellent’ potential for growth. The combined companies will also benefit from ‘valuable synergies in operations and logistics’, NFL says.
Carpet & Flooring’s former owner was private equity firm Endless LLP, which bought the business in 2017. According to its website, Carpet & Flooring, which is headquartered in Redditch, has a reported turnover of £100 million and employs over 350 people.
CEO Lisa Tomlin will continue to lead the business alongside the existing management team. While Wilf Walsh, Carpetright’s CEO, has been named as NFL’s new chairman.
Talal Shakerchi, director of Meditor and founder of the Meditor Group said: “We are delighted to extend our reach into the contract and business-to-business markets by bringing Carpet & Flooring, Contemporary Trade Flooring and Flooring Megastore into Meditor.”
Wilf Walsh, chairman of NHL, said: “We’re pleased to be adding Carpet & Flooring into NHL and feel the business will sit well beside our current brands. I look forward to working with Lisa in my new role as chairman, and to continuing to strengthen the NHL stable with further acquisitions.”
Lisa Tomlin, CEO of Carpet & Flooring, added: “I believe NHL is the ideal owner to ensure Carpet & Flooring is able to realise its growth potential and I look forward to working with their team to help that happen.”