Kettering based Walls and Floors Limited have completed the purchase of their 100,000 sq ft premises thanks to a new funding package from Yorkshire Bank.
The acquisition of the business’ fourth property in Kettering signals the substantial growth experienced by the company since it opened its original 2,000 sq ft shop in 1987.
Walls and Floors Ltd. is now the largest online retailer of tiles in the UK and with the newly acquired three storey distribution centre, they account for 30% of the market share of web based tile sales. The business is also one of the largest independent wholesalers catering to the UK tiling market with 95% of orders being delivered within a three day window.
The company boasts a fleet of 22 vehicles and employs 160 staff across the business, making the organisation one of the biggest employers in the Kettering area.
Yorkshire Bank has provided the business with 100% of the property purchase cost. The funding for the deal was organised by Ian McEwan, Relationship Manager at Yorkshire Bank’s Business and Private Banking Centre in Northampton.
As well as providing the seven figure acquisition sum, the Bank has provided additional bespoke banking services, including improved facilities to assist with the growing online demand.
John Steel, Operations Director of Walls and Floors Ltd. said: “We found that Yorkshire bank had a real appreciation of our business plan and that the team moved quickly and efficiently to put a comprehensive package together to support us.”
Simon Moore, Head of Yorkshire Bank’s Business and Private Banking Centres in Northampton and Cambridgeshire said “We are proud to assist Walls and Floors Limited’s plans for growth and deliver support which will create additional opportunities for the business”
“We look forward to working with the team at Walls and Floors, supporting the growing ambitions of this thriving local business.”