Builders and plumbers merchant group Travis Perkins has agreed a deal to sell its Tile Giant subsidiary to Coverings Ltd, led by entrepreneurs Andrew Thirkill and Adrian Hinchliffe.
Travis Perkins plc bought Tile Giant in late 2007, since when it has grown from 29 to 82 retail stores, and turnover in excess of £50m. It is now being sold as part of Travis Perkins’ strategic drive to simplify the group and focus on trade customers.
Post-acquisition, Tile Giant will operate under its own autonomy continuing to pursue its individual strategy for growth. It existing senior leadership team and managing director James Heese will remain in place.
Andrew Thirkill, of Coverings Ltd, said: “These have been turbulent times for the tile industry, but we firmly believe in what Tile Giant has created with Travis Perkins, with its core proposition of delivering high quality, commercially competitive tiles and accessories to the UK retail market.
“This investment safeguards the future for Tile Giant, and supports the industry to grow as a whole. Home improvement retailers have seen a strong return to business post lockdown, with sales buoyant as homeowners look to reinvest within their properties.”
Heese added: “I would like to thank Travis Perkins plc for their guidance and unwavering support throughout the successful transformation of the Tile Giant business. Coverings Ltd recognise that they have acquired a fantastic business with significant growth potential.
“This is a new and exciting chapter for Tile Giant and we’re delighted to be working with Coverings Ltd to accelerate our growth over the coming years.”