Kelso bets £2M on Likewise as flooring rival collapses
What's the deal? Kelso Group HoldingsDealroom has a profile for this one. Try Dealroom → bought 5.0 million shares in floor coverings distributor Likewise GroupDealroom has a profile for this one. Try Dealroom → at an average of 30 pence, the London-based investment vehicle said Thursday. It now values the stake at around £2.0 million after a share-price jump. Kelso shares rose 6.1% to 3.50 pence, while Likewise climbed 9.3% to 43.00 pence.
Why now? The move follows Likewise's purchase of £14.9 million of assets from the administrators of rival Headlam GroupDealroom has a profile for this one. Try Dealroom → on Wednesday. Headlam fell into administration in early September after years of decline.
What's the endgame? Kelso framed Likewise's rise as evidence "that Headlam's problems were not indicative of the wider sector." The Birmingham-based company has grown revenue from zero to £163.0 million in 2025 in under eight years, and expects it to exceed £200.0 million this year.
The signal: Kelso pegs the UK floorcoverings market at £2.50 billion a year at manufacturer prices, leaving Likewise "significant headroom beyond its current targets." One competitor's collapse is becoming another's opening.
Read more: lse.co.uk
