Blue Point Capital Partners has acquired Shnier-Gesco (Shnier), a Canadian distributor of floor coverings. Shnier represents the 15th platform company for Blue Point II, a 2006 vintage middle-market buyout fund with $400 million in committed capital.
Shnier is the largest distributor of floor coverings in Canada. The company sells proprietary and branded products and programs spanning all flooring categories through an established base of independent retailers. Shnier, founded in 1938, operates 5 warehouses across Canada and is headquartered in Brampton, Ontario (www.shnier.ca).
“Shnier is a demonstrated leader in the Canadian floor covering marketplace with an impeccable reputation for quality,” said Ed duDomaine, president and chief executive officer of Shnier. “Blue Point’s strategic and operational focus made it the obvious choice and ideal partner to execute this next phase of growth for the company. We remain focused on serving our customers with high-quality flooring solutions and unsurpassed levels of service. The best is yet to come for Shnier.”
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, NC; Cleveland, OH; Seattle, WA and Shanghai, China (www.bluepointcapital.com).
“We believe Shnier’s proven management team and strong legacy in the flooring market create a dynamic platform with actionable organic and strategic opportunities,” said Sean Ward, a partner with Blue Point. “We look forward to a successful and rewarding partnership together.”
© 2013 PEPD • Private Equity’s Leading News Magazine • 3-5-13
