19.02.20 - Ulster Carpets steps in to acquire Axfelt from Axminster Carpets
Ulster Carpets is pleased to announce the acquisition of Axfelt, manufacturers of high quality and fully sustainable underlay.
The purchase of this successful brand further demonstrates Ulster’s commitment to developing complementary products to enhance its customer offering.
Ulster’s ethos and future plans very much revolve around quality and service excellence, and these standards will be brought to bear at Axfelt ensuring the existing product is fully supported and developed at the existing Axminster Carpets base.
David Acheson, Ulster’s Head of Strategic Operations commented, “We are delighted to be playing a part in the immediate retention of one part of the facility at the Axminster Carpets site. Working with the current employees, Ulster is committed to growing and developing this highly successful product in Devon. Ulster Carpets are already developing a number of related businesses in the locality with a view to further increasing employment opportunities as it continues to expand its wider brand portfolio.”
Axfelt is made from 100% recycled materials, including wool rich carpet and rubber tyres. This fits perfectly with Ulster’s desire to develop environmentally responsible UK based manufacturing facilities.
The recycled nature of the product was an important factor in the decision and it is planned that the Axfelt production facility will become a future Group hub for developments in recycling, as well as a home for repurposing the Group’s current yarn and carpet waste.
The acquisition is being funded from cash reserves and continues to reflect Ulster’s philosophy of acquiring high quality businesses in the floor covering and luxury interiors sector.