Likewise completes Heatseam acquisition
Growing flooring distributor Likewise has completed its deal to buy Heatseam.
The group issued 30million shares to raise £7.5m to fund the deal. Likewise is paying £7.5m in cash and two million shares plus £500,000 in a year’s time.
Heatseam is forcase to have a pre-tax profit of £1.6m from sales of £21m in the year to 31 March.
Heatseam’s main distribution hub is in Dewsbury with trans-shipping depots in Daventry and Glasgow.