Victoria PLC acquires Interfloor Group
Victoria PLC has acquired Rossendale based Interfloor Group, the UK market-leading manufacturer of carpet underlay and related accessories. The Board of Victoria believes the acquisition will continue the Victoria’s strategy of pursuing growth through earnings enhancing acquisitions and enable Interfloor to deliver strong longer term growth as part of the enlarged Group.
Victoria PLC became BGF’s first investment in a publicly listed company in September 2014.
For the year ended 30 May 2015, Interfloor recorded net sales of £72.29 million and EBITDA of £10.02 million.
Geoff Wilding, Chairman of Victoria PLC commented:
“We believe that Interfloor, as the market-leader, will be an excellent addition to the Group, bringing the complementary established underlay brands of Tredaire and Duralay in alongside our growing portfolio of well-respected carpet and hard-flooring brands. In the UK, Interfloor and Victoria share many of the same customers and there will be significant opportunities to capitalise on this.
“In line with our other recent acquisitions, the Acquisition will be materially earnings enhancing and value creating for shareholders. Working in conjunction with the very experienced operational management team at Interfloor, we expect to be able to drive operational efficiency improvements in future years.
“In the Board’s view this is another high quality acquisition and we are pleased to welcome Interfloor to the Group.”