Topps Tiles, the Leicester-based tile specialist, has acquired 60% of the issued share capital of Pro Tiler Ltd, an online specialist supplier of tiling-related consumables and equipment to trade customers, in a £5.3m deal.
Pro Tiler was established in 2010 by Andy Bucknall, his wife Wendy, and their two sons Sam and Todd. Andy, Sam and Todd all previously worked as professional tilers. As part of this transaction, Andy and Wendy will retire from the business while Sam and Todd will continue to run the day-to-day operations of Pro Tiler.
In the financial year ended 31 March 2021, Pro Tiler reported turnover of £9.3 million and profit before tax of £1.1 million. In the current year, the business has continued to grow and the turnover in the twelve months to 31 January 2022 was £11.9 million.
Topps Tiles says the acquisition of Pro Tiler is a significant development in its growth strategy and an important first step into operating a specialist online business alongside its omni-channel Retail business and Commercial brands.
Rob Parker, Chief Executive, said: “Pro Tiler is a well-respected brand with a strong customer service ethic, which fits closely with our core values. The acquisition of an online specialist supplier to trade customers complements our omni-channel Retail business and Commercial brands.
“It also moves us closer to our 20% market share goal of ‘1 in 5 by 2025’ while maintaining our specialism of tiling and related products. I look forward to working with Sam and Todd Bucknall and helping them to take this successful business forward into the next stage of its growth. The development of our digital offer remains an important area of focus for the Group and we have plans in place to expand this further in 2022.”
