Hardwood flooring supplier Junckers Ltd has welcomed the purchase of its parent company Junckers Industrier A/S by Danish investment company Axcel.

Final approval for the takeover was given by shareholders of Junckers Industrier, which had been in administration since November 12.

John Woolmore, managing director of Witham-based Junckers Ltd, said: “All sorts of rumours about Junckers have been in circulation in the flooring market over recent months and I am glad that we are now able to put these into their proper perspective. The intrinsic values and strengths of Junckers in combination with Axcel’s acumen should make for an unbeatable combination.”

&#8220All sorts of rumours about Junckers have been in circulation and I’m glad that we can put them into proper perspective ”

John Woolmore, managing director Junckers Ltd

Christian Frigast, Axcel’s chief executive officer, said Junckers had been burdened with a heavy debt load for a number of years, due mainly to activities now closed or sold, but new capital would give it a healthy basis for profitable growth.

Mr Frigast said Axcel had “in-depth knowledge of the wood and building industry” gained through former and present investments. He said the company, which has capital backing of €500m, specialises in competitive medium to large sized firms with potential for improvement.