BAAR, SWITZERLAND—Forbo Flooring Systems is set to acquire Bonar Floors, the flooring division of Low & Bonar PLC, a company listed on the London Stock Exchange. Bonar is a major European flooring manufacturer in the contract flooring sector.

With this acquisition, Forbo will further strengthen its position as a systems provider of resilient flooring solutions for the commercial market, noted This Schneider, Forbo’s CEO.

The transaction is expected to close by the end of October. The agreed purchasing price amounts to $235.4 million on a debt- free and cash-free basis.

“With the acquisition of Bonar,” he said, “Forbo will complement and strengthen its product portfolio of high-quality flooring solutions for the global commercial market.

“Bonar will enrich our company with its dedicated and highly skilled employees as well as its strong brands and impressive products,” Schneider added.

From its origins in the U.K., Bonar’s success has been driven by over 30 years experience in commercial flooring applications for healthcare, education, offices and public transport, said Paul Forman, CEO of the Low & Bonar Group.

“Our products are sold in the same market environment in which Forbo is active,” he said. “Bonar Floors’ product portfolio is seen as a good fit with the Forbo product offering of linoleum and project vinyl.

“Forbo has been successfully established in the flooring market for over 100 years,” Forman added. “We were convinced by the good strategic fit between the two businesses and have every confidence in the further successful development of Bonar’s activities with its well-Forbo to acquire Bonar Floors established sales and marketing organization and the professional production sites in Europe.”

Some of the important brands for Bonar are Flotex, a category of flocked vinyl products, Coral and Nuway for entranceways, as well as Chocflex, a commercial acoustic vinyl.

In addition to these, Bonar also carries a portfolio of highend commercial carpet tiles, which offer Forbo a good opportunity to widen its existing product offer to commercial offices and public buildings.

Bonar maintains seven manufacturing facilities in Europe: one in France, one in the Netherlands and five in the United Kingdom. Bonar’s products are sold in over 40 countries. It reports net sales of approximately $212.2 million and employs more than 800 people.