Member Article

Headlam Group acquires rival flooring firm

Floor coverings company Headlam has acquired Hall’s Floorings for a consideration of approximately £472,000.

A further £150,000 will be payable in addition to this consideration once a value of the business’ assets is fairly sought out.

The North London-based firm posted yearly revenues of £8.2m in its latest financial statement released at the beginning of this year.

A deal is expected to go through on 28th March 2013, when the entire business and assets of Hall’s will be transferred to the buyer.

Headlam said it plans to operate its principal logistics from the firm’s existing Coleshill distribution centre subject to consultation with Hall’s Floorings employees.

The business added it would establish a service centre in North London, “to preserve the autonomy and individual identity of Hall’s Floorings.”

This was posted in Bdaily's Members' News section by Miranda Dobson .