Carpet & Flooring

THE OPPORTUNITY

C&F was established in 1992 and has grown into one of the largest distributors of floor covering products – stocking and distributing products from Europe’s leading flooring manufacturers.  With turnover of £100 million, the business employs more than 350 people across its national branch network including its distribution centre in Redditch, in the Midlands.

Prior to our investment the business was part of a larger Plc.  The business loss-making and in need of new investment and a turnaround plan.

THE SOLUTION

Endless Acquired C&F in early 2017 and immediately set about impacting the business to drive change across all of its operations. This included investment in new people as well as a new ERP system to accelerate the turnaround plan.  This system allowed the business to simplify its pricing models, understand profitability at a SKU and customer level and improve margin overall.

We also supported the business through Covid when others may have chosen to walk away and we are proud that the new C&F business that emerged was stronger than ever before.

THE IMPACT

Actions taken since acquisition have taken C&F from a heavy EBITDA loss in FY16 under previous ownership, back to a profitable stand-alone business.

This has been achieved through significant investment into people and infrastructure alongside a streamlining of business processes including a fleet utilisation review and a branch cost efficiency review which together, has left the Business well positioned for further growth.

In 2021 we completed the sale of C&F to a trade competitors seeing to consolidate its position in the wholesale market.  The transaction delivered a 2x return to investors.