Headlam Group (LSE:HEAD) PLC has completed the sale of its Netherlands operations as the floor coverings distributor continues to simplify the business and concentrate solely on the UK market.
The group sold Headlam Holdings BV, Headlam BV and Dersimo BV to SIL 2025 Limited, a company managed by Rcapital Partners LLP.
Gross consideration for the transaction is €850,000, with Headlam expecting net proceeds of around €170,000 after costs.
The proceeds will be used for general working capital purposes.
Headlam had previously announced its intention to dispose of the Netherlands operations as part of a strategic review aimed at simplifying the group and streamlining its operating structure.
Following completion, management will be able to concentrate more closely on the company’s core UK operations, customers and operational priorities.
Chief executive Rob Barclay said the disposal marked “another step towards creating a simpler, more focused Headlam, centred solely on the UK market”.
He added that the transaction would provide the Netherlands businesses with a more focused ownership structure backed by an experienced investor.
Headlam is the UK’s leading distributor of floor coverings and has been reshaping its operations as it focuses resources on improving the performance of its domestic business.
