International law firm Womble Bond Dickinson has advised Keswick Flooring, one the UK's leading online direct to consumer hard flooring brands, and a subsidiary of Nestware Holdings, the sister company of household brand Carpetright, on its acquisition of Coventry-headquartered UK Flooring Direct (UKFD).
Following an accelerated sale process, Keswick's pre-pack acquisition of UKFD from administrators Teneo Financial Advisory, completed in just five days and saw all 85 UKFD jobs safeguarded.
A multi-disciplinary team of lawyers from Womble Bond Dickinson advised on the transaction with the firm providing restructuring, data, employment, tax, property and intellectual property advice. The firm has a longstanding relationship with both Keswick and Nestware having advised on a series of acquisitions over the years.
Andy Stirk, Head of Restructuring and Insolvency at Womble Bond Dickinson, comments:
"We're pleased to have advised Keswick Flooring and Nestware on this important acquisition which secures a future for UK Flooring Direct and all its employees. This was a highly complex transaction involving very tight timescales and many moving parts but our ability to provide a full-service offering, coupled with our understanding of our client and the market, meant we were able to secure a smooth and speedy completion for all parties."