Mo Iqbal, chairman of Tile Mountain Limited has acquired the Coventry-based Capitol Tile Group, formerly one of the UK’s largest tile distributors.
Following many years of successful trading, the Group has more recently experienced financial difficulties and was finally put into liquidation in the first week of November. The Group operated from a dozen retail locations and four distribution warehouses in Coventry, Crawley, Edinburgh and Norwich.
Mo Iqbal has purchased the wholesale and distribution side of the business from the administrators, thus saving seventy jobs in those sectors.
Speaking about the purchase Mr Iqbal says: “I have known the Capitol Tile Group for many years having previously been one of its customers. I, like many others, am saddened that it has fallen into administration. I am however delighted that, in purchasing its wholesale and distribution divisions, I am able to secure the roles of seventy of its current staff, some of whom I have personally known since first setting out in the tile industry.
“The business will remain in Coventry, and the management team will be led by myself and Jeremy Harris as directors. We will apply our knowledge of the industry alongside the latest advancements in technology to improve the business’ offering, so that once again the Capitol Tile Group will be recognised as a leader in the B2B sector of the industry. I believe this acquisition will sit perfectly alongside Tile Mountain for whom I am Chairman, and that the synergy between the two businesses will be of benefit to both our consumer and trade customers.”
The Capitol Tile retail outlets have been purchased separately by a third party. Tilezine hopes to be able to provide more information in due course.