Sterling Closes Fifth Artisan Design Add-on

Artisan Design Group, a portfolio company of The Sterling Group, has acquired Dixie Carpet Installations.

Dixie is a provider of flooring installation and replacement (relay) services to existing and new-construction multi-family properties across Texas including the metropolitan areas of Houston, Austin, Dallas, San Antonio and Corpus Christi.

The company’s products include commercial-grade carpets, vinyl flooring and vinyl tile. Dixie is headquartered near Houston in Missouri City, TX.

Artisan Design Group (ADG) is a dealer of flooring products and services and provides design, procurement, and installation of flooring and complementary products to homebuilders and multi-family developers. The company has more than 70 distribution, design and service facilities and its installation services are provided through over 1,300 independent contractors across 17 states. ADG is led by co-CEOs Larry Barr and Wayne Joseph and is headquartered near Dallas in Southlake, TX.

“Artisan Design Group is excited to partner with Dixie Carpet Installations,” said Mr. Barr. “We are confident that the Dixie team can build on its strong legacy of excellence and continue to grow beyond its current footprint. Dixie significantly expands our relay capabilities, allowing us to better serve our multi-family customers.”

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 acquisition of Dixie represents ADG’s fifth acquisition under Sterling’s ownership. The four earlier transactions were the June 2019 buy of Heritage Carpet & Tile, a Boynton Beach, FL-based provider of design center and installation services for flooring and complementary products including shower enclosures, mirrors and window treatments; the February 2019 buy of Builders Wholesale Flooring, a Columbia, SC-based provider of design, procurement, and installation of flooring and other products to residential and multifamily home builders; and the May 2019 buys of Lake Forest, CA-based sister companies Vintage Design and Nu Wood Design.

Vintage Design is a provider of design and installation services for flooring products in the California market and Nu Wood is a full-service manufacturer and installer of cabinetry which primarily serves Vintage Design’s single-family homebuilder customers. ADG has now completed thirteen total acquisitions since its founding in 2016 and the company continues to seek local and regional sellers of flooring products and services.

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. Since its founding in 1982, The Sterling Group has sponsored the buyout of 55 platform companies and numerous add-on acquisitions with a total transaction value of over $10 billion. The firm is headquartered in Houston (www.sterling-group.com).

© 2019 Private Equity Professional | October 11, 2019

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