South West-based tile retailer and wholesaler Tileflair has stepped into the international market following its sale to a Turkish manufacturer, in a deal advised by Thrings.
Catering for both trade and retail customers for more than 50 years, Tileflair has established itself as one of the leading suppliers in the UK, with nine showrooms across the South of England and specialisms in wall, floor, outdoor, kitchen and bathroom tiles.
Partner Mike Tomlin and Senior Associate Joe Watkins from the firm’s Corporate team led on all legal aspects of the deal for the four shareholders of the Tileflair Group, with two remaining in the business and two fully exiting.
This involved overseeing both the negotiation of the share sale to Qua Granite and the sale of company property to a separate buyer, ensuring a simple and complete sale for the client.
With the sale requiring a cross-departmental approach, the firm also utilised the skills of Partners Robert Barnes and Natalie Ward in acting on all related commercial property and employment aspects of the deal respectively.
Matthew Johnson, CEO of Tileflair Ltd, said: "The sale of Tileflair marks a major milestone in this company’s history, having started as a single retail outlet to become a trusted name to clients whether they are housebuilders, homeowners, contract specifiers or professional tile fixers.
“Having been trusted advisors to us for many years, it has been fantastic to have had the support of Thrings throughout the sale. Having them in our corner was reassuring as we worked to get the deal safely over the line.”
Mike Tomlin, Partner in the Thrings Corporate team, added: “Tileflair is a longstanding client of Thrings and we are pleased to have supported the owners in this sale, which will unlock significant growth and exciting new markets for the business.
“It’s been a pleasure to have worked with them throughout the process and wish them the very best in this next chapter.”
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