Victoria adds £150m to acquisition fund
January 17, 2022
Victoria plc has finalised the receipt of £150m from its key shareholder, the US-based Koch Equity Development invetsment company and will use the funds for further acquisitions.
In a statement to the City, Victoria announced that "following the approval of the preferred equity investment by shareholders at a general meeting held on 13 January, the transaction has completed and Victoria has received £150 million (before fees and expenses) from Koch Equity Development.
"Alongside the Group’s existing financial resources, this capital will be carefully deployed to support Victoria’s acquisition-led growth whilst maintaining the Board’s long-expressed leverage policy," it said.
Geoff Wilding, Executive Chairman of Victoria, said last year: "We continue to have substantial amounts of capital to deploy and are in active discussions with additional high-quality opportunities to grow our business."
The company already owns more than 30 leading flooring brands including Abingdon, Interfloor, Hugh Mackay, Westex and Victoria Carpets and operates from 20+ sites across Europe and in Australia.
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