WILsquare Capital has acquired Walcro, a Midwest-based distributor of flooring installation products.
Walcro is one of the oldest installation supply distributors in the United States. The company – with more than 5,000 SKUs sourced from more than 100 vendors – distributes tools, supplies, accessories and building products that are used in the installation of carpet, ceramic, stone, resilient, laminate and wood flooring. Walcro has 17 stocking locations in Minnesota, North Dakota, South Dakota, Nebraska, Iowa and Wisconsin. The company was founded in 1971 by Warren Kelly and is headquartered near Minneapolis in Bloomington, MN (www.walcro.com).
“WILsquare Capital is extremely pleased to build a relationship with the Kelly family, which allows for us to invest in the legacy they have created over the past 37 years in establishing Walcro as the leading source of flooring installation products,” said Bill Willhite, Managing Partner at WILsquare Capital. “With 17 locations across a six-state area, Walcro’s longstanding relationships with market-leading product manufacturers and its strong team of customer service professionals allow the company to deliver an unrivaled combination of product, knowledge and service to its customers.”
WILsquare invests in businesses that are located in the Midwest and South that are often family-owned and have EBITDA of $3 million to $10 million. Sectors of interest include business services, niche manufacturing, distribution and technology companies. The St. Louis-based firm was co-founded in 2015 by William (Bill) Willhite and James (Jamie) Wilmsen (www.WILsquare.com).
“I am extremely pleased with our partnership with WILsquare Capital and excited about the opportunities for our employees that will be created in taking Walcro to the next level of growth and success,” said Warren Kelly, owner of Walcro. “I am confident WILsquare will preserve the legacy we have built over the years with our outstanding team of customers and vendors.”
According to WILsquare, Warren Kelly, along with his sons, Bill and Sean Kelly, have established Walcro as the “go to” provider of flooring installation solutions. The strong Kelly family values permeate throughout the organization and are the foundation of its customer service and delivery model.
“We are very appreciative of the trust Warren, Bill and Sean have placed in WILsquare Capital to execute Walcro’s next stage of growth,” said James Wilmsen, Partner at WILsquare Capital. “With Bill Kelly’s continued involvement as CEO of the organization along with Warren serving as an advisor to the Board and Sean advising on the transition, we are excited about the opportunity to grow Walcro’s business with existing customers and new customers in areas outside of Walcro’s current six-state area. We look forward to supporting Walcro’s investment in innovative product solutions as well as additional locations to better serve its customer base.”
The buy of Walcro was made through WILsquare Capital Partners Fund I, LP.
© 2017 Private Equity Professional | July 11, 2017
