Artisan Design Group, a portfolio company of The Sterling Group, has acquired Builders Wholesale Flooring, a dealer of flooring products and services.
Builders Wholesale is a provider of design, procurement, and installation of flooring and complimentary products to residential and multifamily home builders. The company’s products include carpet, hardwood, tile, laminate, stone, cork and bamboo flooring as well as kitchen countertops.
Builders Wholesale has ten facilities in North and South Carolina with a headquarters in Columbia, SC (www.builderswholesale.com). Builders Wholesale, led by President Wayne Martin, considers itself to be the largest flooring provider in the Carolinas region.
Artisan Design Group (ADG) is a dealer of flooring products and services, providing design, procurement, and installation of flooring and other complementary products for homebuilders. The company operates 39 distribution, design and service facilities and coordinates installation through over 800 independent contractors across 13 states. ADG is led by co-CEOs Larry Barr and Wayne Joseph and is headquartered in Southlake, TX (www.artisandesigngroup.us).
ADG was formed by Dunes Point Capital in 2016 through the combination of Floors Inc. and Malibu Floors. At that time, the combined companies had annual revenues of $120 million. Within two years and after eight add-on acquisitions annual revenues had increased to $410 million. The Sterling Group acquired ADG from Dunes Point through its fourth fund in December 2018. The buy of Builders Wholesale is ADG’s first add-on acquisition under Sterling ownership.
“In a short period of time, Larry Barr and Wayne Joseph have built an industry-leading flooring specialist with significant scale,” said Kent Wallace, a partner at The Sterling Group. “We look forward to supporting their continued expansion both organically and through further acquisitions.”
The Sterling Group invests in manufacturing, industrial services and distribution companies that have enterprise values from $100 million to $750 million. The firm emphasizes an operational approach in partnership with management teams to grow and improve the companies it acquires. Sterling was founded in 1982 and is headquartered in Houston (www.sterling-group.com).
© 2019 Private Equity Professional | March 5, 2019
