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Zeus acted as Lead Financial Adviser & Joint Broker to Likewise Group

Zeus is delighted to have acted as Lead Financial Adviser and Joint Broker to Likewise Group plc (AIM:LIKE) in connection with its £30.0 million conditional acquisition of Valley Wholesale Carpets (2004) Limited (“Valley”), a UK-based distributor and wholesaler of carpets.

Company information

Likewise is a leading distributor of residential and commercial floorings, mats and rugs to retailers and contractors through its seven distribution centres across the UK. It has a history of delivering organic growth as well as acquiring and successfully integrating complementary businesses which expand the group’s product offering and / or geographic presence.

Valley, founded in 1982, is a well-established distributor and wholesaler of carpets to independent retailers across the UK. It has a strong presence in the South East of England and the Midlands, with two principal distribution centres in Erith and Derby.

Valley generated audited revenue of £47.3 million in the year ended 30 September 2021, up 32 per cent. on the previous financial year, and EBITDA of c.£5.7 million, up c.89 per cent.

The acquisition will increase Likewise’s share of the UK flooring market to approximately 5.6 per cent. of the £1.9 billion UK industry, boosting its position as one of the leaders in the UK market.

Zeus team

Zeus acted as lead financial adviser, nominated adviser and assisted Likewise as joint broker to conditionally raise £14.0 million in gross proceeds from new and existing shareholders to finance the acquisition.

Members of the Zeus team included: Jordan Warburton, David Foreman, James Edis and Guy Brinkley (Corporate Finance); and Dominic King, Emma Ayton and Victoria Ayton (Corporate Broking).

In 2021, Zeus has advised on 22 transactions across public and private markets valued in excess of £3.3 billion.

Jordan Warburton

Director of Corporate Finance, Zeus

“Congratulations to Tony, Roy and the wider Likewise management team on the acquisition of Valley, a significant step forward for the group. It is has been a pleasure to advise Likewise on this key milestone and it is great to see the group continuing to execute its M&A strategy post its AIM IPO in the summer.

We wish the enlarged group every success and look forward to continuing to support the team on its journey.”

Contact

If you would like further information, please get in touch with our team.

Jordan Warburton Director of Corporate Finance Scan with your phone camera to add to contacts Download vCard
Victoria Ayton Director of Corporate Broking Scan with your phone camera to add to contacts Download vCard

This web page constitutes a financial promotion for the purposes of section 21 of the Financial Services and Markets Act 2000 and has been approved by Zeus Capital Limited, which is authorised and regulated by the Financial Conduct Authority.