Century Park Capital Partners has acquired Better Life Technology, a maker of specialized vinyl flooring products.
Better Life Technology (BLT) is a manufacturer, designer, marketer and distributor of specialized vinyl flooring products and printing substrates that are used in multiple end markets by residential consumers as well as original equipment manufacturers of marine and transit products.
BLT’s main product is G-Floor vinyl flooring which features a ribbed channel design which contains dirt and liquids commonly found in garages. G-Floor is distributed throughout the US and internationally through big box retail stores. BLT has expanded the G-Floor product line and introduced other vinyl flooring products which have been adopted as the standard in certain segments of the boating and transit industries. BLT was founded by Don & Brett Sneed in 1998 and is headquartered southwest of Kansas City in Lenexa, KS (www.bltllc.com).
“After developing BLT for the last 17 years, I am excited to partner with Century Park to take the company to the next level. We have many opportunities for growth, and with Century Park’s experience and industry contacts, the sky’s the limit,” said Mr. Sneed, who will continue to serve the President of the company. Jerry Herbert, the current Chief Operating Officer of BLT, will also remain in his current role.
“The team at BLT has done a great job developing the market for vinyl garage flooring and expanding the company’s products into other growing end markets,” said Chip Roellig, Managing Partner with Century Park. “Brett and Jerry are a great team and we are excited to work with them to accelerate the company’s growth in the coming years.”
Century Park Capital Partners invests from $10 million to $50 million in middle-market companies that have revenues of $20 million to $100 million and EBITDA of $4 million to $15 million. Sectors of interest include chemicals, medical products and services, business services, industrials, and consumer products. The firm is based in Los Angeles (www.centuryparkcapital.com).
Irvine CA-based OpusBank (www.opusbank.com) and Pittsburgh-based PNC Mezzanine Capital (www.pncmezzanine.com) provided the debt financing for the transaction. NextGen Capital was the financial advisor to BLT.
© 2015 PEPD • Private Equity’s Leading News Magazine • 7-15-15
