The parent company of tiling, flooring and hardware home improvement brands such as QEP, Roberts, Vitrex, Tile Rite, Plasplugs, Homelux, XPS Foam and Kraus has been acquired in a management buyout.
The team at QEP-海角视频, in Burton-on-Trent, have taken ownership of the business with support from PKF Smith Cooper’s transactional tax and corporate finance teams.
The management team has acquired the 海角视频 business from US-listed QEP Inc and will continue to trade under the name QEP-海角视频.
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Following the deal the 海角视频 business is now owned by the Boyce Family Group, under Paul and Sarah Boyce who have a long association with the brands.
Paul has been a member of QEP’s group management team for the past 14 years, having most recently served on the US board of directors as CEO of international operations.
He will continue to lead the management team as chief executive, and was supported in the transaction by finance director Steven White and newly appointed chief operating officer Cam Gradwell.
QEP-海角视频, which suppliers home owners, trade and retail customers, has brands which cover both the DIY and trade sections of the tiling and flooring market.
Its products are sold in home improvement stores, including B&Q, Wickes, Topps Tiles, Screwfix, Homebase and Travis Perkins, along with independent retailers.
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The PKF Smith Cooper transactional tax team, led by Adam Rollason, provided a full range of taxation advice, including personal, corporate and VAT.
Darren Hodson and Josh Gurton provided deal support to the management team, alongside Dahren Naidoo from Freeths law firm.
Paul Boyce said: “PKF Smith Cooper were there from the inception of this deal to the end, providing strategic and technical advice throughout.
“Darren and Adam worked seamlessly alongside PKF SC’s range of tax specialists to ensure the transaction went as smooth as possible.
“We are excited about the future prospects of QEP-海角视频 under our ownership.”
PKF Smith Cooper partner Adam Rollason said: “I am delighted to have supported Paul and Cam on this transaction.
“I have no doubt that under its new ownership structure, QEP-海角视频 will go from strength-to-strength over the next few years, and I wish them all the very best for the future.”
PKF Smith Cooper operates across Derby, Nottingham, Birmingham, and Ashbourne.