Headlam, a Europe wide floor coverings distributor, has bought up Welsh outfit Flooring Accessories.
Flooring Accessories, based in Cardiff, is a distributor of residential and commercial floor covering, principally in south Wales.
Revenue for the year ended July 31st was £2,180,000.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Headlam will pay £576,400 up front, with a further £50,000 payable following the production of accounts to verify minimum net assets of £540,000.
Flooring Accessories will continue to trade from its location in Cardiff and be supported by the group's distribution network.
BS
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
