PGS acquisition to leverage expenditure firm’s expertise in building merchandise sector
Transaction highlights ongoing momentum of Platinum Equity’s Small Cap workforce
LOS ANGELES, July 7, 2021 /PRNewswire/ — Platinum Equity announced currently the acquisition of Paramount International Surfaces (PGS) from Linsalata Funds Partners. Financial conditions of the transaction had been not disclosed.
PGS is a foremost developer, importer and distributor of top quality, proprietary porcelain tile and other tough surface area ground coverings utilized mostly in transform and replacement options by equally residential and commercial conclusion buyers.
Headquartered in Miami, PGS goes to marketplace by two unique floor covering makes: Satisfied Floors, which serves a diverse foundation of additional than 6,000 impartial dealer customers in the course of the United States and Ceramic Technics, which serves about 1,800 architecture and style corporations, and 4,000 contractors/installers and corporate prospects across many commercial and multi-household conclusion-user segments.
PGS serves some of the swiftest rising segments of the floor covering market as client choices continue to change in the direction of tile and luxurious vinyl tile products. Bigger macro trends are also having a favourable impression on the corporation.
“PGS serves a vital website link in the benefit chain connecting higher-high quality tile companies with countless numbers of end consumers in the US household and professional marketplaces,” claimed Platinum Equity Husband or wife Jacob Kotzubei. “Covid and demographic tendencies are also driving a change in consumer life-style that is stimulating increased new home development and renovation action, and we anticipate the impact of these tailwinds will be felt for years to come.”
Platinum Equity a short while ago obtained Cabinetworks, the premier independently owned manufacturer and distributor of kitchen and bathtub cupboards in the United States. Other firms the agency previously invested in contain: Interior Logic Team, the most significant nationwide supplier of inside style and end answers for the homebuilding market PrimeSource, a national distributor of specialty creating materials together with fasteners serving the new-building and transforming marketplaces and Nilco, a wholesale distributor of specialty making supplies and industrial goods.
“We have a whole lot of knowledge investing in developing merchandise providers and know the business nicely,” extra Mr. Kotzubei. “We will place our M&A and operational assets to operate in pursuit of new avenues to diversify PGS by item style, geography, channel and client segment. The firm operates in a remarkably fragmented sector with important opportunities to develop, and PGS is an outstanding platform for supplemental complementary and transformative acquisitions.”
O’Melveny & Myers and Alston & Fowl served as Platinum Equity’s authorized counsel on the transaction. Robert W. Baird & Co. served as economical advisor to Platinum Fairness on the transaction.
The Blackstone Team delivered funding for the transaction.
Moelis & Organization LLC served as special financial advisor and Calfee, Halter & Griswold supplied legal counsel to PGS.
About Platinum Fairness
Founded in 1995 by Tom Gores, Platinum Fairness is a world-wide investment agency with additional than $25 billion of assets below administration and a portfolio of somewhere around 40 functioning providers that serve prospects all over the earth. The business is at this time investing from Platinum Fairness Cash Companions V, a $10 billion international buyout fund, and Platinum Equity Modest Cap Fund, a $1.5 billion buyout fund targeted on investment decision possibilities in the lessen center marketplace. Platinum Equity specializes in mergers, acquisitions and functions – a trademarked approach it calls M&A&O® – buying and functioning corporations in a wide array of enterprise marketplaces, which include production, distribution, transportation and logistics, tools rental, metals providers, media and enjoyment, technological innovation, telecommunications and other industries. About the earlier 25 decades Platinum Equity has accomplished additional than 300 acquisitions.
Contacts:
Dan Whelan, Platinum Fairness
(310) 282-9202
[email protected]
View unique articles to obtain multimedia:https://www.prnewswire.com/news-releases/platinum-equity-acquires-flooring-distributor-paramount-world-wide-surfaces-301327408.html
Source Platinum Equity
