Headlam Group Announces Sale of Netherlands Business

Headlam (LSE: HEAD), the UK's leading floor coverings distributor, is pleased to confirm that, further to the previously announced intention to dispose of its Netherlands operations and consistent with the objectives of the Group's strategic review, it has completed the sale of those operations to SIL 2025 Limited, a company managed by Rcapital Partners LLP. The transaction comprises the Group's Netherlands businesses, Headlam Holdings B.V., Headlam B.V. and Dersimo B.V.

The sale represents a further step in Headlam's previously announced strategy to simplify the Group and its operating structure, as well as focusing the business solely on its core UK operations.

This enables greater management attention to be directed towards the Group's UK business, its customers and its operational priorities.

Financial terms

The gross consideration for the sale is EUR 850,000. Net proceeds after costs of c. EUR 170,000 will be used for general working capital purposes. 

Commenting on the sale, Rob Barclay, Chief Executive Officer of Headlam, said: "The completion of the sale of our Netherlands businesses marks another step towards creating a simpler, more focused Headlam, centred solely on the UK market. 

"We are pleased to have reached an outcome that provides the Netherlands businesses with a focused ownership structure and the support of an experienced investor."

Source : Headlam Group plc

Image :  Headlam Group plc

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