Shnier-Gesco, a portfolio company of Blue Point Capital since March 2013, has acquired Tierra Sol Ceramic Tile, a distributor of ceramic and porcelain tile.
In addition to distributing ceramic and porcelain tile, Tierra Sol also distributes glass and metal accents and natural stone products that are used on floors and walls in commercial and residential applications. The company was founded in 1979 by Hardy Porter and is headquartered in Calgary with additional offices in Vancouver, Edmonton, and Seattle (www.tierrasol.ca).
Shnier-Gesco (Shnier) is one of the larger distributors of floor coverings in Canada. The company sells both proprietary and branded products through a network of over 3,000 dealers. Shnier was founded in 1938 and operates 5 warehouses across Canada. The company is headquartered in the Toronto suburb of Brampton (www.shnier.ca).
According to Blue Point, Tierra Sol will operate as a division of Shnier and will extend the company’s capabilities in ceramic tile, add to its luxury vinyl tile business, and expand the company’s geographic footprint.
“Shnier excels at marketing, selling and distributing licensed and branded flooring products to multiple customer channels,” said Chip Chaikin, a partner with Blue Point. “Tierra Sol is focused on the fast-growing ceramic category, with particular strength in western Canada and the northwestern United States. The combination of the two companies will allow us to reach a larger customer base with an extended product and service offering. The combination is terrific.”
Blue Point Capital Partners is a lower-middle-market private equity firm that invests in manufacturing, distribution and service businesses generating $20 million to $200 million in revenue. The firm has over $800 million in committed capital and has offices in Charlotte, Cleveland, Seattle, and Shanghai (www.bluepointcapital.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 4-8-16
