Tower Three Partners Takes Controlling Interest in Parterre
Greenwich, CT, September 6, 2017-Tower Three Partners, a operationally-oriented private equity firm that invests in a concentrated portfolio of U.S.-based middle market companies, has made a controlling investment in Parterre Flooring Systems.
Founded in 1991 and headquartered in Wilmington, Massachusetts, Parterre was one of the first designers and manufacturers of luxury vinyl tile, plank and sheet flooring products in the United States. Since its inception, it has grown into a leading design brand in its category, with a national sales force and distribution across a broad range of end-use segments, including hospitality, retail, healthcare, multi-family and commercial real estate. The company is positioned to meet the needs of its diverse customer base, offering more than 200 SKUs of proprietary stone and wood grain patterns and colors. In addition, Parterre has been honored with numerous awards for product design and quality, including ADEX Interior Design Best of Year; Buildings MagazineEditor's Choice; and Floor Focus Magazine Favorite Resilient and Hard Surface Manufacturers.
Terms of the transaction, which was completed in August 2017, were not disclosed.
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