Victoria seals £6.5m takeover
Kidderminster carpet manufacturer Victoria has sealed the takeover of Yorkshire-based underlay specialist Ezi Floor.
The deal will see Victoria pay an initial £6.5 million for the company, with a deferred sum of £6.5 million depending on its financial performance in the next four years.
The company has a manufacturing facility near Bradford. It is expected to bring EBITDA worth around £2.4 million for the year to the end of March.
Victoria chairman Geoff Wilding said: "We believe underlay to be a real opportunity and Victoria is already actively looking at other opportunities in the underlay sector.
"12 months ago Victoria acquired underlay manufacturer Interfloor. Since then, cross-selling opportunities – almost all consumer carpet purchases require underlay – and purchasing improvements as a result of the group's scale have successfully and significantly improved the earnings of that business."
He added: "The integration of our previous acquisitions has been completed, and Victoria is already benefiting from our strategy of achieving scale through acquisitions and we look forward to integrating Ezi Floor and developing the business as part of Victoria."
The enlarged group has around 1,700 employees and operates from 10 sites in the UK, and three in Australia.
