Nimbus, the Pan European investor, has acquired National Floorcoverings Group (NFCG).
The investment represents Nimbus’s first UK investment out of its new Fund V investment vehicle following the successful exits of two UK manufacturing businesses earlier in the year.
NFCG produces a range of floor coverings which includes fibre bonded carpets for the education market, tufted carpet tiles for the commercial sector, aluminium/modular entrance matting and specialised indoor and outdoor sports surfaces.
Operating from two sites in Heckmondwike and Rotherham, NFCG consists of four market facing divisions Heckmondwike, Paragon, Playrite and Mat.Works. The group has been under family ownership for over 60 years dominating the educational sector with its Supacord product since the early 1970s.
Nimbus have supported the incumbent Managing Director David Rhodes and his Management Team in leading a management buy out. Mr Rhodes said: “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.”
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.”
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