Investee Company – The Resilient Flooring Company (UK)
Investee Company Business Type – Specialist floorcoverings
Type of Financing – Acquisition for expansion
Equity Providers – Close Brothers Growth Capital
Equity Leader (Individual) – Alan Pepper
Debt Providers – N/A
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – £3 million hybrid debt-equity package
Total Deal Value – £3 million
Other Advisors – CBGC – Ernst & Young (Financial due diligence)
Osborne Clarke (Legal due diligence)
Fletcher King Braithwaite (Valuations)
Management – Old Mutual Securities (Financial)
Taylor Joyson Garrett (Legal)
Comments – Close Brothers Growth Capital (CBGC) has backed the acquisition of Brayshay Holdings Ltd by The Resilient Flooring Company. Brayshay is being acquired from its management and backers including 3i.
The transaction is being financed by a hybrid debt-equity funding package of £3 million from CBGC as well as equity provided by management.
Leeds-based RFC was set up by the former CEO of Headland PLC Ian Kirkham and Stuart Large, a former senior executive at Armstrong World Industries. They will be joined by David Taylor, the current managing director of Brayshay.
Alan Pepper of CBGC, joining the board of RFC, 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 – indeed acquisitions have already been identified.”