Endless exits Carpet & Flooring in trade sale

Nestware is part of the UK-based holding company Meditor Holdings. The company owns a number of other flooring businesses including Carpetright and FlooringSupplies.co.uk.

Financial terms of the deal were not disclosed.

Endless acquired the carpet and flooring division of listed building products company SIG in early 2017, following which it traded under the Carpet & Flooring brand. The division was loss making at the time with a turnover of around £100m, according to Unquote coverage. The GP planned on investing in the company's operational and commercial activities, with plans to increase its national footprint.

The investment was the 14th from Endless's fourth fund, which held a final close in December 2014.

Company
Founded as a division of SIG in 1992, Carpet & Flooring distributes flooring products. It operates from 11 UK sites, with its main distribution centre based in Redditch. The business generated a turnover of £90m in 2019 (down from £98m in the previous year), with gross profit of £22m and an operating loss of £2.1m, according to its most recent publicly available accounts.

People
Endless – James Woolley (partner); Jon Duffy (associate director); Linda Nguyenova (investment manager).

Advisers
Vendors – Sentio Corporate Finance, Rory Wade, Charlie Gray (corporate finance); Gordons, Jonathan Asquez, Lisa Murphy (legal).
Acquirer – Womble Bond Dickinson, Simon Watts (legal).

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• Topics
• Exits
• Industrials
• UK / Ireland
• Endless
• Trade sale