Artisan Design Group, a portfolio company of The Sterling Group, has acquired sister companies Vintage Design LLC and Nu Wood Design LLC.
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 50 distribution, design and service facilities and coordinates installation through over 1,250 independent contractors across 16 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 buys of Vintage Design and Nu Wood Design are the second and third add-on acquisitions under Sterling ownership. Vintage Design is a provider of design and installation services for flooring products in the California market. Nu Wood is a full-service manufacturer and installer of cabinetry which primarily serves Vintage Design’s single-family homebuilder customers. Both companies, led by CEO Tim Buckley, are based in Lake Forest, CA (www.vintagedesigninc.com).
“As a family-owned business, we wanted to find a trusted partner who could support us in our continued strong growth and focus on serving our customers,” said Mr. Buckley. “Working with ADG is the perfect next step for our customers, our employees and our family.”
ADG’s fist add-on acquisition under Sterling ownership was the February 2019 buy of Builders Wholesale Flooring, a provider of design, procurement, and installation of flooring and complimentary products to residential and multifamily home builders. Builders Wholesale has ten facilities in North and South Carolina with a headquarters in Columbia, SC (www.builderswholesale.com).
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 | May 6, 2019