Linsalata Capital Partners’ Adds CTL onto Happy Floors Platform
Mayfield Heights, Ohio (June 5, 2018) – Linsalata Capital Partners (LinCap), a Cleveland-based private equity firm, announced that in partnership with the founder and management, it has recapitalized Ceramic Technics, LLC (“CTL”) in combination with its Happy Floors platform investment. Terms of the CTL recapitalization were not disclosed.
CTL, headquartered in Alpharetta, GA was founded in 1988 and is a leading designer, importer and distributor of high-grade porcelain tile and natural stone materials serving commercial flooring markets. As a trusted partner to architectural and design firms and owner-developers, CTL is a valued resource throughout the project lifecycle for various venues including hotels, corporate centers/universities, malls, retail stores, restaurants, airports, healthcare facilities and other commercial segments.
Happy Floors, headquartered in Miami, FL, was founded in 1987 and is a leading importer and distributor of premium ceramic and porcelain tile for use in residential and commercial flooring applications. With a focus on the higher-end tile segment, the company distributes its products across the United States to a diversified customer base of top-performing specialty floor covering dealers and stores.
CTL founder Gerry King said, “We are excited to have found a true partner in LinCap and Happy Floors who can help support and invest in the business. We have enjoyed rapid growth in recent years and believe this new partnership can help us take the business to new levels.” The Company will continue to be led by the existing management team, including Mr. King and Matt Houser. Mr. Houser, who has been with CTL for 18 years, added, “We are excited to work with the Happy Floors team and look to continue our strong track record by accelerating our expansion and distribution profile across the country.”
James Nowicki, CEO of Happy Floors noted the opportunity “as two very targeted companies coming together to set the standard of service in both the residential and commercial markets by leveraging our strengths of product and superior customer service. The potential for our two businesses working together will provide great value to our loyal customers.”
Gregg Taber, Senior Managing Director at LinCap commented, “We are excited to be partnering with Gerry, Matt and the CTL team to build on the success they have achieved and support the future growth of the company. We have a great deal of experience working with founder businesses and Gerry and Matt are true entrepreneurs with great vision and discipline. We are delighted to be their partner.” Dan DeSantis, Managing Director at LinCap, also remarked, “Our success to date with Happy Floors has provided a great start and we are excited about the opportunity to expand the platform and market opportunity.”
About Linsalata Capital Partners
Located in the Cleveland suburb of Mayfield Heights, Ohio, Linsalata Capital Partners was founded in 1984 and has combined its strong financial capabilities with extensive operational experience to accelerate the growth of middle-market companies. In its 34 years of investing, the firm has completed 114 buy-side transactions totaling over $4 billion. Linsalata Capital Partners is currently investing from its seventh fund, Linsalata Capital Partners Fund VI, L.P., with $427 million in committed equity capital.