Advising Likewise Group plc on £15m acquisition of assets from administration

We have advised AIM-listed flooring distributor Likewise Group plc on the acquisition of certain business assets from Headlam Group plc and HFD Limited, both in administration, acting through their joint administrators at Interpath Advisory for a total consideration of £14.9m.

The transaction, which has helped safeguard 110 jobs, included the acquisition of Headlam’s Thatcham distribution centre, the trade and assets of Crucial Trading and Concept Flooring, and certain intellectual property assets. Likewise Group plc also entered into an agency agreement with the administrators to support the sale of Headlam’s remaining stock over the coming months.

The Gateley Legal team was led by restructuring advisory partner Dan French, alongside Sam Meiklejohn (corporate), Paul Ball (employment), Helen Jones and David Harris (restructuring advisory), and Shazan Miah (real estate).

Dan French said: “We’re pleased to have supported Likewise on this significant strategic acquisition. This acquisition enhances its distribution capability, broadens its brand portfolio and positions the business strongly to realise its future growth ambitions. It was a pleasure to work alongside the Likewise team and colleagues across Gateley Legal to bring the deal to a successful conclusion.”