Private Equity Firms Buy Floor and Decor
Atlanta, GA, Nov. 29, 2010 -- Floor and Decor Outlets of America, a retailer of hard surface flooring, said it has been acquired by affiliates of Ares Management LLC and Freeman Spogli & Co. from an investor group that includes Najeti Ventures LLC, Saugatuck Capital Company, and TWJ Capital LLC.
Founded in 2000, Floor and Decor offers ceramic, stone, wood and laminate flooring for both individual consumers as well as contractors.
In addition, it also sells tools and related accessories.
“We are delighted to partner with Ares and Freeman Spogli, whose capital base, network of relationships, and expertise in the retail and consumer industries will be an invaluable resource as we embark on a significant expansion of our geographic footprint,” said Vincent West, CEO of Floor and Decor.
Floor and Decor currently operates 25 stores in 15 metropolitan markets across the U.S. Stores typically range in size from 60,000 to 80,000 square feet.