Saw Mill Capital has acquired Rasa Floors, a Texas-based provider of flooring services.
Rasa Floors is a provider of flooring installation services as well as repair, renovation and new construction applications, with a focus on the multi-family market in the Southeast and Southwest United States.
Rasa Floors, led by founder and CEO Michael Rasa, was founded in 1994 and is headquartered near Dallas in Carrolton, Texas.
The buy of Rasa Floors, which closed in December 2021, is the ninth investment made by Saw Mill’s most recent private equity fund, Saw Mill Capital Partners II LP, which closed in July 2017 with an above-target $340 million in capital. In March 2021, Saw Mill acquired Nemo Tile, its eighth Fund II investment. Nemo is a New York City-based designer and distributor of tile, stone, and setting materials that serves the architecture and design, contractor, and retail channels. The company’s products are used in both commercial and residential construction projects.
“We are excited to have the opportunity to partner with Saw Mill,” said Mr. Rasa. “Through extensive interactions, we have developed a deep relationship with the Saw Mill team, who has demonstrated an intrinsic knowledge of our business model and the markets in which we operate. Rasa has experienced tremendous success since our founding and with the added strategic support from Saw Mill, we believe we are capable of significant growth in the future. We look forward to continuing to execute our strategic vision and are delighted to partner with Saw Mill as we enter the next stage of Rasa’s journey.”
“The team at Rasa has created an exceptional business with an outstanding company culture focused on employee growth and delivering best-in-class service to its customers,” said Travis Foltz, a principal at Saw Mill. “This commitment to quality service has resulted in exceptional historical growth and a compelling market leadership position. Saw Mill has a successful track record of partnering with founder- and entrepreneur-led businesses, and we are incredibly excited to partner with the Rasa team and support the company through its next phase of growth.”
Saw Mill invests in North American-based manufacturing, industrial and commercial services, and specialty distribution businesses with $25 million to $200 million of revenues and $5 million to $25 million of EBITDA. The firm was founded in 1997 and is headquartered north of New York City in Briarcliff Manor, New York.
Croft & Bender was the financial advisor to Rasa Floors on this transaction.
© 2022 Private Equity Professional | January 25, 2022
