Specialist investment group Coverings has announced a deal with Travis Perkins to acquire retailer Tile Giant and own 100% stake in the business.

Led by entrepreneurs Andrew Thirkill and Adrian Hinchcliffe, Coverings will use its business planning acumen and experience to drive the retail tile business.

Tile Giant was bought by Travis Perkins in 2007 and grew from 29 to 82 retail stores, with a business turnover in excess of £50million.

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It is being sold as part of Travis Perkins’ drive to simplify its group and focus on trade customers.

Travis Perkins also sold its heating, plumbing and bathroom wholesaler Primaflow F&P, earlier this year.

Andrew Thirkhill of Coverings said: “These have been turbulent times for the tile industry, but we firmly believe in what Tile Giant has created with Travis Perkins, with its core proposition of delivering high quality, commercially competitive tiles and accessories to the UK retail market.

“This investment safeguards the future for Tile Giant, and supports the industry to grow as a whole.

“Home improvement retailers have seen a strong return to business post lockdown with sales buoyant as homeowners look to reinvest within their properties.”

Post-acquisition, the tile retailer will operate under its own autonomy and will continue to trade under the guidance of its existing senior management team and managing director James Heese.

James Heese commented: “I would like to thank Travis Perkins for their guidance and unwavering support throughout the successful transformation of the Tile Giant business.

“Coverings recognise that they have acquired a fantastic business with significant growth potential.

“This is a new and exciting chapter for Tile Giant and we’re delighted to be working with Coverings to accelerate our growth over the coming years.”