Coventry, England, July 21, 2006--Floor covering firm Amtico has been sold for nearly £100 million (US$185M), according to the Birmingham Post and other news sources.
The company, which makes and sells specialised vinyl flooring, has been bought by ABN AMRO Capital.
The investment bank will acquire a 56 per cent stake in the Coventry-based firm from Electra Private Equity.
The transaction, which is expected to complete in around four weeks subject to customary approvals, will value the group at £98.25 million (US$182.4M).
Amtico's management team headed by Jonathan Duck, chief executive, will also invest alongside ABN AMRO and Electra is rolling over a proportion of their proceeds to take an 18 per cent stake in the group.
