Lynx Equity has acquired G&W Commercial Interiors, a provider of commercial flooring and related services, from its founders James Gravalis and Steve Woodman.
Since its founding in 2000, G&W Commercial Interiors has been providing its Pacific Northwest customers – such as assisted living & nursing facilities; health & fitness clubs; hospitals, labs & clinics; manufactures; retailer; education facilities; multi-family facilities; and commercial kitchens – with carpet, vinyl, rubber, ceramic tile, stone, cork, and hardwood flooring products and installation. Additional services include floor care, painting, hygienic wall panels, level III & IV infection control, furniture moving, and project planning and management. G&W’s employees include seventy in-house installers. The company is based near Seattle in Kent, WA (www.gwcfloor.com).
With the closing of the acquisition, G&W’s Vice President, Steve Woodman, has assumed the role of President of the company. “We are excited to welcome Steve and the entire G&W team to the Lynx family. They run an incredible business and we are excited to implement many of their best practices within our organization,” said Lynx Equity President, Brad Nathan.
In 2014, Lynx acquired Portland-based Floor Solutions, a distributor of commercial flooring in both Oregon and Washington. “Floor Solutions has proven to be an extremely successful acquisition for Lynx and we are excited to continue to grow this area of our portfolio with the addition of G&W,” added Mr. Nathan.
Lynx Equity acquires small to medium-sized businesses from owners looking to retire. The firm invests from $1.5 million to $8 million of equity in companies with revenue of $2 million to $25 million and EBITDA between $500,000 and $2.0 million. Lynx Equity is headquartered in Toronto (www.lynxequity.com).
“All of us at G&W are thrilled to be part of the Lynx portfolio as it allows for a smooth transition, improved capital structure, and long term continuity from the founding shareholders to the next generation of leadership and management,” said Mr. Woodman. “The ability to maintain G&W’s values, strategies, and goals ensuring that the company can continue to take care of its customers and team members, as it has historically, is the cornerstone of this acquisition strategy. Personally, I am very excited about continuing to lead the execution of our business strategy with Lynx’s support and resources.”
© 2017 Private Equity Professional | June 26, 2017
