Investor Relations

Likewise Group PLC is a UK distributor of both domestic and commercial floorcoverings and matting. The Directors believe they have an opportunity to build a business of national scale and over time become a strong alternative to the current larger industry competitors within the sector.

To deliver on this strategy, Likewise intends to utilise the expertise and industry knowledge of the Board, executive board and advisory board to deliver organic growth, operational leverage and where desirable execute strategic acquisitions.

Prior to listing on TISE, Likewise has acquired William Armes Limited and the trade and assets of Bruce Starke & Co Limited, both of which have been fully integrated into the Group.

The Directors are seeking Admission for the following reasons:

  • to raise the Group’s public profile and status;
  • to provide the Group with access to capital markets;
  • to enhance the Group’s ability to attract and retain staff;
  • to gain a potentially attractive acquisition currency, for use were any suitable acquisition opportunity to arise; and
  • to provide existing shareholders with a market for their Shares.

The Group intends to raise net proceeds of £6.5 million through the Subscription, which will be used to provide working capital for growth and potential acquisitions.

Business strategy and execution

The Directors believe value can be generated for shareholders, suppliers and consumers by creating a national supplier and distributor of UK floorcoverings as a competing alternative to current large companies in the industry.

To date, the Group has acquired the entire share capital of William Arms Limited, the trade and assets of Bruce Starke & Co Limited, the entire share capital of Lewis Abbott Limited, Heatseam Limited, H&V Carpets BVBA and A&A Carpets Limited which have been fully integrated into the Group.

William Armes – acquired in January 2018

A UK distributor and manufacturer of domestic doormats, rugs, runners, under the ‘Dandy’ brand name, and flooring for marquees from its purpose-built 80,000 sq. ft distribution centre, which is owned by the Group, in Sudbury, Suffolk.

Bruce Starke – trade and assets acquired in September 2018

A distributor of matting and flooring products, founded in 1899. Bruce Starke has particular expertise in coir matting; a coarse kind of matting, traditionally derived from coconut fibres. 

Both William Armes and Bruce Starke businesses were consolidated in January 2020 and now operate from our facility in Sudbury, Suffolk.

Lewis Abbott – acquired in February 2019

A distributor of residential and commercial flooring to retailers in London and the South East.

Heatseam Limited – acquired in April 2019

A distributor of residential flooring products throughout England. The product portfolio includes carpet, vinyl, laminate, LVT, artificial grass, underlays and accessories. Heatseam's main distribution hub is in Morley, Leeds.

H&V Carpets – acquired in May 2019

Based in Meulebeke Belgium, H&V is a supplier of full rolls of carpet to flooring retailers in the UK and Germany.

A&A Carpets – acquired in February 2020

Based In Worsley, Manchester. A distributor of residential flooring to retailers in the North West of England.

It is the intention of the Board that where future acquisitions are considered, they will focus around increasing scale and advancing the commercial and operational reach of the Group into new regions.

Management structure

Three separate boards have been established to deliver the Group’s long-term strategy. Only the PLC board are statutory directors of Likewise.

The PLC board will be responsible for execution of the strategy and ensuring the Group meets the requirements expected of a listed business. This board comprises the following individuals each of whom has previous listed company experience and has a wealth of experience in the UK floorcoverings industry.

-Paramjit Paul Singh Bassi Independent Non-Executive Chairman

-Anthony John Brewer Chief Executive Officer

-Roy Povey Chief Financial Officer

-Andrew James William Simpson Non-Executive Director

Paul Bassi is considered to be an independent Director. Following Admission, it is the intention of the Board that a second independent Non-Executive Director will be added to the PLC board.

The executive board will report to the PLC board and will be responsible for operational delivery and be in control of the day to day trading, sourcing and integration of new acquisitions and management of head office operations. This board includes three individuals in total, all have a wealth of experience in the UK floorcoverings market. The composition of the executive board is:

  • Adrian Laffey
  • James Kellet
  • Tony Judge

The advisory board will report to the PLC board and will provide guidance and industry insights to assist in the delivery of the Group’s strategy. The advisory board is composed of individuals with extensive experience of both the UK and Global floorcoverings markets. The advisory board comprises:

  • Andrew Woodhouse
  • Geoff Duggan FCIS FCMA
  • Keith Yates
  • Paul Wiseman
  • Stuart Large

Market and Competition

Currently, the UK floorcoverings market, covering residential and commercial, is worth £2 billion (excluding ceramics) with growth forecast at 2 – 3 per cent. per annum.

Currently c.30 per cent. of the market is accounted for by a small number of larger industry competitors, with national multiple retailers, regionally focused independent retailers and flooring contractors making up the remaining c.70 per cent.

The Directors believe that, through a number of industry and macro factors, the market will polarise towards larger competitors, and that the Group can be well positioned to benefit from this trend.

The floor and wall covering market is made up of manufacturers, distributors, retailers and installers. It is the strategy of the Group to consolidate the distribution and retail sections of the market to gain national scale and provide a channel for UK and overseas manufacturers amongst other benefits.

The residential sector of the market is expected to increase as new homes are added to meet a structural demand for housing; c.160,000 new residential dwellings were added in 2018 alone. Additionally, home improvements, changing consumer demands and trends along with repair works creates further demand. Demand in the commercial sector should also remain robust over the medium term as new office space continues to be constructed.

Corporate Governance

The Directors acknowledge the importance of the principles set out in the QCA Corporate Governance Code.

Whilst there is no regulatory requirement for the Company to comply with the QCA Corporate Governance Code, the Directors intend to apply the QCA Corporate Governance Code, as far as they consider appropriate for a company of the Company’s size and nature.

Immediately following Admission, the Board will comprise four directors, two of whom shall be executive directors and two of whom shall be non-executive directors, reflecting a blend of different experience and backgrounds. Paul Bassi is considered independent.

The Board intends to meet regularly to consider strategy, performance and the framework of internal controls. To enable the Board to discharge its duties, all Directors will receive appropriate and timely information. Briefing papers will be distributed to all Directors in advance of Board meetings. All Directors will have access to the advice and services of the Secretary, who will be responsible for ensuring that the Board procedures are followed and that applicable rules and regulations are complied with. In addition, procedures will be in place to enable the Directors to obtain independent professional advice in the furtherance of their duties, if necessary, at the Company’s expense.

The Board considers it necessary and appropriate to establish an audit committee. The audit committee will be responsible for reviewing and monitoring internal financial control systems and risk management systems on which the Company is reliant, considering annual and interim accounts and audit reports, considering the appointment and remuneration of the Company’s auditors and monitoring and reviewing annually their independence, objectivity, effectiveness and qualifications.

The Board also intends to establish a remuneration committee that will be responsible for, inter alia, the Group’s remuneration policy and for reviewing and recommending all Directors’ and senior executives’ remuneration, bonuses and incentives.

The Board also intends to establish a nominations committee with responsibility for identifying suitable candidates to be appointed as directors as and when a vacancy may arise. 

To view a copy of our latest Investor Presentation please click here

Registered Office

Likewise Group PLC

Unit 4 Radial Park

Solihull Parkway

Birmingham Business Park


B37 7YN


Counsel to the Company

Counsel to the Company as to Guernsey law

Auditors and Reporting Accountants

Gateley PLC

One Eleven Edmund Street


B3 2HJ.

Carey Olsen (Guernsey) LLP

PO Box 98

Carey House

Les Banques

St Peter Port


GY1 4BZ.

Crowe U.K. LLP

55 Ludgate Hill

London EC4M 7JW, UK.


Link Market Services Limited

The Registry

34 Beckenham Road



BR3 4TU.


Barclays PLC

6th Floor

1 Snowhill


B4 6GN

Listing Sponsor: 

Ravenscroft Consultancy & Listing Services Limited 

PO Box 222 

20 New Street

St Peter Port



Market Maker:

Ravenscroft (CI) Limited

PO Box 222

20 New Street

St Peter Port



Financial Advisors.

Zeus Capital Limited.

82 King Street,


M2 4WQ.