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Tue August 16 2022

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MBO rescues flooring company

1 Dec 10 Quiligotti Terrazzo, specialist producer of terrazzo floor tiles, has been rescued from administration by a management buyout, with the help of another manufacturer, Kengate.

The company was previously a division of Pilkington's Group plc.

The joint administrators of Pilkington's Group, Paul Flint and Brian Green from KPMG Restructuring, have sold Quiligotti Terrazzo to members of the former management team, who were backed in the acquisition by another key name in the terrazzo flooring market, Kengate.

 The sale, which completed on 26 November, ensures that the UK's main producer of specialised terrazzo flooring remains in operation within the UK, and also protects 23 jobs at the company's production facility in Swinton, Greater Manchester.

Paul Flint said: "The deal to sell the Quiligotti division of Pilkington's is the result of nearly six months work on this case. In particular, we are delighted to have secured the future employment of the division's loyal workforce, and are also extremely pleased to be able to leave the business on a solid footing to continue manufacture. We would like to take this opportunity to thank all of Quiligotti's valued clients and customers for supporting the business through this difficult period. We would also like to acknowledge the role played by its suppliers in allowing this business to continue to trade, thereby helping to secure a great outcome for all.”

David McCartney of Kengate, one of the major shareholders in the new company, Quiligotti Terrazzo Tiles Ltd, stated that he supports UK manufacturing through Kengate Terrazzo Tiles and will continue his support with his joint venture into Quiligotti Terrazzo.

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