Father and son carpet fitters Robert and Ryan Jackson have bought the Sheffield business Dad has worked at for 20 years.
The pair teamed up to buy Balfour Carpets based at The Old Balfour Cinema, Staniforth Road.
The firm, thought to be the largest independent carpet and flooring warehouse in South Yorkshire. employs 25 people.
The entrepreneurial duo have 60 years of carpet and flooring experience between them.
Robert Jackson, who has worked as a fitter for the last 40 years, including 20 years with Balfour, decided the time was right to invest in the business.
He said: “It’s great that we’ve been able to acquire this longstanding business and continue with their family traditions. It’s going to be great working with Ryan who not only has fitting experience but also over 10 years retail and managerial experience, which will help us take the business forward.”
Ryan Jackson, joint owner in the new company said: “Barclays supported the purchase of the business with term and working capital and Chris has been an integral partner in clinching the deal. We hope to expand the business and take on new staff as we look to grow both our customer base and product offering.”
Chris North, business banking manager at Barclays put together the funding package for the deal.
He said: “It’s great to see Robert and Ryan securing the future of the current 25 employees and looking to grow the business with further job opportunities for South Yorkshire. They both have fantastic experience in the trade and the future looks bright.”
The home of Balfour, the old Darnall Picture Palace, closed in 1959.