Despite a tough trading cycle, we particularly admire Milestone’s continued support and encouragement which has kept us focused on growth and profitability.Phil Reeder, Chairman
| Location |  |
|---|---|
| Date of investment | Aug 2005 |
| Activity | Manufacture and distribution of consumer goods |
| Investment Size | €29.0m |
| Type/stage | MBI / Buy and build |
| Revenues | €100.0m |
| Transaction Size | €120.0m |
| Management Team |
|
| Milestone Board Members |
The Business
Interfloor is one of the world’s leading manufactures and suppliers of underlay, flooring accessories and specialised rubber products. The Company is the largest manufacturer of carpet and laminate underlay and related products in Europe, having over 80% of the UK sponge underlay market – its core product, and operates from two UK manufacturing facilities.
Value Added Steps Planned
- Focus on efficiency improvements and cost reductions in the UK, resulting in a minimum £7m improvement in EBITDA over a three year period. To date, cost reductions in excess of £10m have been achieved without impacting the quality of product or service to the end customer;
- Exit the independently run US business. This was completed in April 2006 at an exit value greater than was originally planned in the investment case and this significantly de-geared the company; and
- Bolt-on complimentary acquisitions. Interfloor acquired Stikatak Ltd, a well established supplier of flooring accessories to the UK retail, contract and DIY segments in April 2008.