Amtico

Branded luxury flooring manufacturer Amtico covered all bases when developing its exit strategy – and achieved a £100 million secondary buy-out on the back of a full-scale competitive auction.

Amtico, which manufactures premium-quality vinyl flooring for both residential and commercial markets, faced tough competition from the Far East. Existing investors Electra appointed Jonathan Duck as the group’s chief executive, to initiate sweeping changes. Duck prepared the ground by assembling key players a couple of years before the anticipated sale, creating fresh impetus and new direction.

Clearwater provided senior-level input on the secondary buy-out. Amtico’s management team - having enjoyed very little equity in the original buy-out - secured a significant 25 per cent stake in a fiercely-fought competitive auction. The deal, backed by ABN AMRO Capital and Royal Bank of Scotland, saw Electra retain an interest.

On Clearwater's team, Duck commented:

“Clearwater brought a sense of humour and realism to the process. It was useful having somebody there who knows the form.”

Amtico is now in great shape – hitting the first year of its plan and also successfully introducing the high-quality, but more affordable Spacia brand.