Bentley Mills to be Recapitalized by Lone Star

Los Angeles, CA, January 3, 2017—Bentley Mills announced today it has signed a definitive agreement to be recapitalized by an affiliate of Lone Star, a global private equity firm with $64 billion in assets.

The transaction is expected to close in January 2017, pending customary closing conditions.

“Bentley is an iconic marketplace brand, ideally positioned for its next phase of growth,” said Donald Quintin, senior managing director at Lone Star. “We’re looking forward to partnering with the company and its leadership team, and to supporting them as they continue to expand their industry-leading commercial carpet product portfolio.” Lone Star also owns Balta.

Bentley, which was purchased by Dominus Capital in 2012 from Interface, will continue its operations in California.

“This acquisition is a direct outcome of Bentley’s tremendous success over the last four-plus years,” said Ralph Grogan, president of Bentley. “Lone Star is the best partner to invest in our future. We have a shared vision for continued growth—made possible through our commitment to innovation and forward-thinking products and services.”

According to Floor Focus estimates, Bentley has enjoyed two back-to-back years of double-digit growth, exceeding overall market performance.

Dominus Capital purchased Bentley from Interface in July of 2012. Interface had owned Bentley since 1993. Mac Bridger, former president of Tandus, facilitated the deal and was instrumental in hiring Ralph Grogan as president and CEO of Bentley Mills.

In the last four years, Bentley has rebranded itself and put together an impressive team of leaders that includes Jim Harley, Eric Petty, Todd van der Kruik and Sherry Dreger. Part of the synergy of the team comes from the fact that three of Bentley’s leaders—Grogan, van der Kruik and Harley—worked together at California-based Monterey Mills prior to it being acquired by Tandus in 1999. There will be no changes to management as a result of the recapitalization.

Many would agree that Bentley being purchased by a non-strategic buyer is good for the industry because it keeps the brand and operation completely independent and does not contribute to the ongoing consolidation trend within the industry.