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Genesis ready for growth with Gerflor deal

A floorings firm is primed to tread new ground following a takeover.

Genesis Brands Limited has been bought by French company Gerflor.

Bosses say the deal will extend Stokesley-based Genesis’ global reach, which already extends across more than 70 countries and includes bases in Colombia and India.

They add the agreement, completed for an undisclosed sum, has also secured the futures of Genesis’ 55-strong team.

Aidan Bruce, sole shareholder of 35-year-old Genesis, which supplies products including stair nosings and entrance matting, said: “Gerflor is established in more than 100 countries and is continuously developing activities in new markets.

“In acquiring Genesis, Gerflor’s directors saw an opportunity to add further depth to their range and expand its marketplace.

“It has been hard, but rewarding, work over the last 35 years.

“I could not have wished for a better team to have supported me throughout this time, nor a better outcome for the business and staff who will all be retained by the new owners.”

The deal was supported by accountancy, business and financial advisory firm Armstrong Watson and law firm Swinburne Maddison.

David Wilson, Armstrong Watson corporate finance partner, was supported by Ellis Kerton, with corporate tax advice provided by Hayley Deeming.

David said: “Genesis has been a longstanding client, and I am pleased to have assisted this milestone event, which will allow Aidan to reap the rewards of his hard work and secure the future for Genesis employees.”

Martyn Tennant, Swinburne Maddison corporate and commercial partner, led the transaction for the law firm, with support from a team that included solicitor Jess Stevens, commercial property partner Victoria Walton, Niamh Wilson and managing associate Sharney Randhawa.

He said: “Thanks to the strength and depth of our team and our experience in dealing with complex legal arrangements, we were well placed to take on this instruction and meet the project timetable.

“The satisfactory and timely completion of the transaction serves to demonstrate the breadth of partner-level expertise that the Swinburne Maddison team can offer clients from our Durham head office.”

London law firm Travers Smith and financial advisory firm Eight Advisory advised Gerflor.

June 10, 2024

  • Business & Economy

Created by Steven Hugill