Penningtons Manches Cooper advises Domus Tiles management team on acquisition of the Domus Tiles business from administration
Penningtons Manches Cooper has advised the management team of Domus Tiles Limited on the acquisition of the business and assets of Domus Tiles from administration through a newly established company, Domus Group London Limited. The transaction secured the continuation of the business and safeguarded over 100 jobs across the company.
The acquisition returned the business to management-led ownership following the administration of its parent company, Headlam Group plc. By completing the transaction immediately following the appointment of administrators, the management team was able to ensure continuity for customers, suppliers and employees whilst preserving the long-term future of a well-established business with a strong reputation in its market.
Founded in 1964, Domus Tiles Limited is a distributor of premium tile and flooring products, supplying architects, interior designers and corporate customers across the UK. The business operates showrooms in Battersea, Clerkenwell, Birmingham, Glasgow, Manchester and West Molesey, and has supplied products for a number of high-profile developments, including Battersea Power Station, Heathrow Airport Terminals 2 and 5, the US Embassy in London and Wembley Stadium. Prior to the transaction, Domus was a wholly owned subsidiary of Headlam Group plc.
The Penningtons Manches Cooper team was led by corporate managing associate Hannah McIlwriath and partner David Kendall, and restructuring and insolvency partner, Rebecca Andrews-Walker. They were supported by corporate associate, Keelan Williams, banking and finance partner Grant Eldred and associate Maria Capocci, and commercial real estate associate, Lucy Tilt.
Jon Newey, CEO at Domus, commented: “The successful completion of this transaction marks an important milestone for the business and provides a strong foundation for its next phase of growth. Our management team has a deep understanding of the market, longstanding relationships with customers and suppliers, and a clear vision for the future of Domus. We are pleased to have secured the continuation of the business and safeguarded the jobs of our talented employees, whose expertise and commitment have been central to Domus’ success. We are also grateful to the team at Penningtons Manches Cooper for their pragmatic and commercial support throughout a complex and time-critical transaction. Their guidance was instrumental in helping us achieve a positive outcome for the business and its stakeholders.”
David Kendall, corporate partner at Penningtons Manches Cooper, commented: “We were pleased to support the management team on this acquisition. The transaction enables a respected business to continue trading under the leadership of an experienced management team, protects more than 100 jobs and provides stability for customers and suppliers. It was a collaborative process completed within a challenging timeframe, and we wish the business every success for the future.”