3i has managed to realise its investment in carpet specialist, Brayshay via a secondary transaction. Brayshay is being acquired from its management team and 3i by The Resilient Flooring Company. The £3 million acquisition is being backed by Close Brothers Growth Capital. The transaction creates a specialist floorcoverings business focused primarily on resilient floor coverings such as wood, laminates and vinyl.
The investment was a long one for 3i who backed the company some ten years ago for a small undisclosed amount. The £3 million deal is being financed exclusively by way of a hybrid debt equity funding package from CBGC. The management is also providing equity.
Alan Pepper of CBGC said: “We are delighted to be backing an incredibly strong management team who have very clear plans for the growth of their business. We are confident that RFC will rapidly become a major force in the UK floorcoverings distribution market and will grow rapidly.” He added that acquisitions to grow the company have already been identified.