News: Floorcoverings group acquired
A Rotherham-based designer, producer and supplier of high-quality commercial carpet tiles has been acquired in a management buy out (MBO), backed by Nimbus, the Pan European investor.
Paragon Carpet Tiles is based in Manvers and makes up part of National Floorcoverings Group (NFG).
NFG consists of four market facing divisions Heckmondwike, Paragon, Playrite and Mat.Works and has been under family ownership for over 60 years. In that time NFG has dominated the educational sector with its flagship fibre bonded product Supacord whilst continually developing and introducing new product lines to appeal to wider commercial offices and sports organisations.
The acquisition by Nimbus, which has offices in Munich, Zeist and Leeds, represents the first UK investment out of its new Fund V investment vehicle following the successful exits of two UK manufacturing businesses earlier in the year.
Nimbus have supported the incumbent Managing Director David Rhodes and his Management Team in leading a management buy out. Mr Rhodes commented “This investment marks an exciting new chapter for the group and we are looking forward to working with Nimbus who have an excellent track record in supporting UK manufacturers adapt to ever-changing commercial landscapes”.
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David Keenan, who led the investment for Nimbus, added “NFCG holds a very strong market presence in the UK and we hope to work with David and his team to advance further export opportunities whilst introducing new product ranges to our existing markets”. The investment comes swiftly after the successful exits of Paralloy Ltd and Hawthorn Timber Ltd for Nimbus which delivered market leading returns for investors. Nimbus continues to pursue traditional UK businesses with its hands on approach and capital transforming and future proofing their manufacturing footprints."
Looking ahead, NFG is focused on capitalizing on its manufacturing capabilities and exploring new market segments, including potential expansions into overseas markets where the demand for British-manufactured products remains strong. Through ongoing investments in operational improvements and product development, the group is well-positioned to continue its growth trajectory and uphold its tradition of delivering high-quality flooring solutions.
Paragon Carpet Tiles website
Images: Paragon Carpet Tiles
Paragon Carpet Tiles is based in Manvers and makes up part of National Floorcoverings Group (NFG).
NFG consists of four market facing divisions Heckmondwike, Paragon, Playrite and Mat.Works and has been under family ownership for over 60 years. In that time NFG has dominated the educational sector with its flagship fibre bonded product Supacord whilst continually developing and introducing new product lines to appeal to wider commercial offices and sports organisations.
The acquisition by Nimbus, which has offices in Munich, Zeist and Leeds, represents the first UK investment out of its new Fund V investment vehicle following the successful exits of two UK manufacturing businesses earlier in the year.
Nimbus have supported the incumbent Managing Director David Rhodes and his Management Team in leading a management buy out. Mr Rhodes commented “This investment marks an exciting new chapter for the group and we are looking forward to working with Nimbus who have an excellent track record in supporting UK manufacturers adapt to ever-changing commercial landscapes”.
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David Keenan, who led the investment for Nimbus, added “NFCG holds a very strong market presence in the UK and we hope to work with David and his team to advance further export opportunities whilst introducing new product ranges to our existing markets”. The investment comes swiftly after the successful exits of Paralloy Ltd and Hawthorn Timber Ltd for Nimbus which delivered market leading returns for investors. Nimbus continues to pursue traditional UK businesses with its hands on approach and capital transforming and future proofing their manufacturing footprints."
Looking ahead, NFG is focused on capitalizing on its manufacturing capabilities and exploring new market segments, including potential expansions into overseas markets where the demand for British-manufactured products remains strong. Through ongoing investments in operational improvements and product development, the group is well-positioned to continue its growth trajectory and uphold its tradition of delivering high-quality flooring solutions.
Paragon Carpet Tiles website
Images: Paragon Carpet Tiles
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