An international distributor of floorcoverings has acquired a family-owned North West wholesaler in a £1.3m deal.
Headlam Group has acquired Supertex Furnishing, which was established in 1978 by its chairman Brian Boocock.
Brian’s son Haydn is the Managing Director and daughter Samantha works in a sales capacity.
Ben Bradley of HURST Corporate Finance advised the shareholders of Supertex on the deal. Tom Hall, Katie Ward and Gabrielle Cummins from Pannone Corporate provided legal advice.
Supertex, which is based in Leyland, Lancashire, has 29 staff and annual revenues of £4.7m. The company operates from a 30,000 sq ft facility which includes offices, a warehouse and showroom.
It supplies carpets and carpet tiles as well as vinyl flooring, artificial grass and accessories to retailers across the north and Midlands, sourcing products from major manufacturers in the UK and Europe. The company distributes cut-length orders from stock on a next-day-delivery service.
Following the deal, Supertex will continue to trade under its existing brand while being supported by Headlam’s management team, distribution network and centralised and financial resources.
The main operations will eventually move to Headlam’s existing premises in Stockport, creating operating efficiencies, with a trade counter remaining in Leyland to service the local area.
Haydn is staying on to assist Headlam with the company’s integration into the group.
Ben Bradley said: “Supertex has been a long-standing client of HURST and it has been a pleasure advising the shareholders on their successful exit, allowing for the next stage of growth under Headlam’s ownership.”
The acquisition enlarges Headlam’s residential sector activities in the north west.
Haydn said: “Headlam was the favoured and trusted choice of buyer to protect the Supertex brand.
“Our loyal customer base, many of whom have traded with us for over 40 years, will only benefit from the investment and logistical expertise that Headlam has to offer.
“We are grateful to our advisers for successfully completing the deal that ensures an advantageous outcome for both parties.”