UK Flooring Direct UKFD) has been acquired in a pre-pack deal to Keswick Flooring which is a subsidiary of Nestware. UKFD had filed a notice of intent to appoint administrators on Friday and Teneo Financial Advisory ran an accelerated sale process.
UKFD was founded in 2006 by CEO Jason Ashby to said: “I’m pleased to say that we’ve found in Nestware the ideal partner to continue our long-standing heritage as a leading provider of flooring to the UK consumer and trade markets.”
Keswick CEO James Davey commented: “This acquisition brings together two powerhouses of the online flooring retail sector, creating an entity that is well positioned to capitalise on the evolving market trends towards convenience, service and value.”
Lead administrator Paul Meadows added: “The sale safeguards all of UKFD’s 85 employees in Coventry and gives the business the strategic backing it requires to fulfil its ambitions. As part of the sale agreement, any outstanding customer orders will be fulfilled.”
Share