Online merchat CMOStores.com has bought online tile retailer Total Tiles.
The transaction is the second acquisition by the CMOStores group, following that of DoorWeb in 2018. CMO intends to continue its acquisition strategy to expand the group in the coming years, supported by private equity house Key Capital Partners (KCP) who advised on the transaction.
Following the acquisition, Ipswich-based Total Tiles will continue to be led by incumbent managing director Andy Moore. He said: “I’m looking forward to taking Total Tiles from strength to strength with CMO’s considerable backing and assistance. We have already achieved a great deal with Total Tiles, successfully growing our revenue, and going forward we plan to use this platform to build on our success in the future.”
CMOStores.com now offers over 75,000 building products and this latest deal is part of the plan to increase revenue and market share through both organic growth and acquisitions, with the aim of being the UK’s largest online retailer of construction and home improvement products.
CMOstores.com’s managing director, Sue Packer, said: “We are very pleased to have completed this latest acquisition, which supports our growth ambitions by expanding our presence in the burgeoning home improvement sector. We are excited to work with Andy to support the continued success of the CMOStores Group and Total Tiles in 2021 and beyond.”
Key Capital Partners’ investment partner, James Excell, said: “We are very happy to have assisted CMO with its second acquisition, and to be welcoming Total Tiles into the group. The acquisition underlines our ambition for the CMOStores Group and demonstrates the company’s commitment to increasing its value and market share.”