8th Oct 2026 14:38
(Alliance News) - Kelso Group Holdings PLC shares surged on Thursday after it announced a new investment in Likewise Group PLC.
Kelso shares rose 6.1% at 3.50 pence each in the afternoon in London, while Likewise was up 9.3% to 43.00 pence.
The London-based investment vehicle said it recently bought 5.0 million Likewise shares at an average price of 30 pence.
Kelso values its stake in the Birmingham, England-based floor coverings distribution company at around GBP2.0 million, following Likewise's share price increase.
The investment comes after Likewiske purchased assets worth GBP14.9 million from competitor Headlam Group PLC's administrators on Wednesday.
Kelso said Headlam's fall into administration in early September followed several years of decline, while Likewise’s strong performance in the same period showed "that Headlam's problems were not indicative of the wider sector."
"In under eight years [Likewise] has grown revenue from zero to GBP163.0 million in 2025, and expects it to exceed GBP200.0 million this year," Kelso noted.
"The UK floorcoverings market is estimated at GBP2.50 billion a year at manufacturer prices, leaving Likewise significant headroom beyond its current targets," it added.
By Camilla Borri, Alliance News reporter
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