Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
  • Video Insights
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Carpetright agrees to shareholder takeover deal

Carpetright agrees to shareholder takeover deal

Fri, 15 Nov 2019 | BUSINESS SALE



Carpetright has agreed a deal to be taken over by its largest shareholder, Meditor Fund. The deal values Carpetright’s issued share capital at £15.2 million and sees the company be acquired by Meditor Holdings, a newly incorporated subsidiary of Meditor Fund.

The new subsidiary was formed especially for the purposes of the takeover. Meditor Fund owns 29.9 per cent of Carpetright, with Meditor Holdings now purchasing the remaining shares.

Meditor Fund had purchased the lender’s interests in Carpetright’s revolving credit facility in September of this year. This is set to expire, along with Carpetright’s overdraft facilities, on December 31.

The buyout was unanimously recommended by Carpetright’s directors. Carpetright Chairman Bob Ivell said: "We believe the MHL offer is in the best interests of all stakeholders.

"While we have made significant progress with our recovery plan for the Carpetright Group, our ability to invest in the future of the business has been constrained against the backdrop of limiting banking covenants and a very challenging consumer market.

"With a recapitalised business and the backing of a committed new owner with the resources to invest in Carpetright for the long term, we will be able to complete our recovery in the private arena and emerge as a stronger business."

Meanwhile, Talal Shakerchi, director of MHL, added: "I believe this scheme represents the best outcome for all stakeholder groups. In particular, with Meditor's support and financial backing and without the constraints of a public market listing, Carpetright will be well positioned to compete more effectively."


Share this article



Latest Businesses for Sale

Local Post Office & Convenience Store
London, UK

This is a well established and well used local post office situated in a densely populated area of East London. The area surrounding the business is extremely busy through the week and weekends due to the travel links and leisure facilities close by.

Asking Price: Offers Invited
Turnover: £660,000

LEASEHOLD


Online Retailer Of Roof Windows & Lights
UK Wide

Offers an extensive selection of quality products, including pitched and flat roof windows, composite and uPVC windows and doors, and roofing products. Works with leading manufacturers to supply premium, branded products, many of which are exclusive...

Asking Price: Offers Invited
Turnover: £10,600,000

FREEHOLD


B2C E-Cigarette Brand with E-commerce
South England, UK Wide

The company has established a respected brand, offering an extensive selection of e-cigarettes, vapes, refills and accessories, with all ingredients, flavours and e-liquids being made the UK. Benefits from a loyal and long-standing customer base, pre...

Asking Price: Offers Invited
Turnover: £829,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
15
 
Jan
 

Buyer sought for portfolio of pubs | BUSINESS SALE

Five pubs that formerly operated under the Authentic Alehous...

 
14
 
Jan
 

Acquisitive RSK Group completes trio of deals | BUSINESS SALE

Cheshire-based technical services consultancy RSK Group has ...

 
13
 
Jan
 

Heat transfer equipment manufacturer falls into administration | ADMINISTRATION

Coventry-based Covrad Heat Transfer has fallen into administ...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
04
 
May
 

Jacques Vert owner 'prepares to call administrators' | ADMINISTRATION

Calvetron, owner of fashion brand Jacques Vert and other fas...

 
20
 
Mar
 

Carpetright 'could close stores' amid insolvency concerns | BUSINESS NEWS

High street carpet giant Carpetright has revealed it could c...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Daily Financial Alerts
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2021. Business Sale Report Ltd. All rights reserved. www.business-sale.com.