GESCO Holdings, a portfolio company of Blue Point Capital Partners, has acquired Savoia Canada, a distributor of ceramic, porcelain and stone surfaces used in floor and wall applications, from Graniti Fiandre SPA, a manufacturer of marble, granite, stone and porcelain surface products.
Savoia Canada distributes products used in both commercial and residential applications. The company represents such brands as Fiandre, Iris U.S., PorcelainGres, Iris Ceramica and Ariostea. Customers and end users include global companies such as Ford, BMW, McDonalds, Nike, Burger King and Starbucks, among others. Savoia Canada is headquartered near Toronto in Mississauga (www.savoia.com).
The buy of Savoia Canada is the second add-on acquisition for GESCO since Blue Point acquired the platform investment in March 2013. The original platform acquisition included the operations of Toronto-based Shnier, the largest distributor of floor coverings in Canada (www.shnier.ca). In April 2016, GESCO completed its first add-on acquisition with the buy of Tierra Sol Ceramic Tile, a distributor of ceramic and porcelain tile based in Calgary (www.tierrasol.ca).
The acquisition of Savoia Canada adds the third entity under the GESCO Group of Companies, alongside Shnier and Tierra Sol. “This move is highly strategic for GESCO, further supporting our efforts to become an even more significant player within the Canadian floor covering marketplace, especially ceramics,” said Chip Chaikin, a Partner with Blue Point.
GESCO Holdings is now one of Canada’s leading flooring and multi-surface distribution companies. The company designs, merchandises, markets, sells and distributes various licensed and proprietary private label brands to customers within multiple distribution channels. Products are sourced from over 100 suppliers throughout fourteen countries across the globe. The company is led by its President Ed duDomaine (www.gesco.ca).
“The acquisition of Savoia further strengthens GESCO’s presence in the attractive ceramic distribution marketplace, and enhances our offerings to commercial, architectural and design customers,” said Jon Pressnell, a Principal at Blue Point.
Blue Point Capital Partners is a lower middle market private equity firm that invests in manufacturing, distribution and service businesses that have from $20 million to $300 million in revenue. The firm has over $825 million in committed capital and has offices in Cleveland, Charlotte, Seattle, and Shanghai (www.bluepointcapital.com).
Graniti Fiandre, the seller of Savoia Canada, is based near Bologna in Castellarano, Italy (www.granitifiandre.com).
© 2017 Private Equity Professional | March 8, 2017
