Victoria PLC is a UK-listed flooring manufacturing roll-up that is owned and operated by Geoff Wilding who took control as Chairman in 2012. The company owns soft and hard flooring manufacturing businesses that distribute products to the largest European and UK retailers.
The flooring industry is resilient with a stable replacement market and the top two players in Europe only account for ~15% of industry volume. Flooring manufacturers are typically highly cash generative due to attractive working capital profile, long-life fixed assets that have relatively low technological risk, and a stable end market.
Since 2014, Victoria has made over 20 acquisitions that are integrated into the group’s operations. Victoria uses debt and preferred equity from Koch to finance acquisitions that cost ~5-7x EBITDA.
Nearly 40% of the shares outstanding are held by management and two longer-term shareholders in Koch Investments and Spruce House Partnership. Geoff Wilding still owns nearly 20% of the business.
Jan has nearly 50 years experience in the flooring industry and has deep knowledge of the soft flooring procurement, manufacturing, and distribution processes. He enjoyed 16 years at Balta where he was responsible for sourcing all the yarns for the group across Europe. He has also worked closely with many of the largest European soft flooring companies to consult on improving procurement costs and strategies.
... (transcript preview, sign up to read more) ...
Jan has nearly 50 years experience in the flooring industry and has deep knowledge of the soft flooring procurement, manufacturing, and distribution processes. He enjoyed 16 years at Balta where he was responsible for sourcing all the yarns for the group across Europe. He has also worked closely with many of the largest European soft flooring companies to consult on improving procurement costs and strategies.