Victoria (AIM:VCP) another acquisition and nice to see some new equity raised this time
The high flying manufacturer, supplier and distributor of design-led flooring, has announced yet another sizeable acquisition, thankfully this time supported by some new equity, although the debt load still increases and free cash flow forecasts still don’t make complete sense. It’s an exciting one nonetheless!
The Group has acquired Interfloor Group Limited, a UK manufacturer of carpet underlay and related accessories, for a total enterprise value of £65.0m from private equity investors Milestone Capital, Hutton Collins Partners, and management. Interfloor is one of the UK’s leading manufacturers of carpet underlay, primarily through the long established brands Treadaire and Duralay, and supplier of related flooring accessories under the Gripperrods and Stikatak brands. Based on a 10 acre site in Haslingden, Lancashire, the Group was created by the merger of Tredaire and Duralay in 2002, with a heritage that dates back to the 1940s. Since 2005, Interfloor…