Dalton, GA, November 17, 2005--Edge Flooring LLC has announced the completion of a transaction with an affiliate of Hunt Special Situations Group, a middle market private equity group.
Edge, which is based in Dalton, Georgia, is a manufacturer of engineered tile flooring systems for the home center, specialty retail and distribution markets in the U.S., Canada and Europe. The tile flooring system is comprised of real porcelain tile or granite mounted to an interlocking backer board, underlayment, saw blades, transitions and pre-mixed flexible grout. The company's products can be found in over 3,300 retail locations worldwide, including Lowe's Home Improvement stores.
The Edge Flooring management team is led by Bill Cralley, president and chief executive officer. Prior to joining the company, Bill was president of Alcoa Architectural Products, a $500+ million, multi-national business comprised of the Kawneer Company, Alumax Products and Alcoa Cladding Systems. Bill has over 24 years experience in the building and construction products and service industry.
"As an investor in the Edge business, Hunt brings both financial and non-financial resources to the relationship. Hunt is committed to supporting the initiatives required to continue to grow the business and bring our expanding product offering to the broader retail flooring market. This transaction represents an investment in an exciting company with a unique and differentiated product offering within an attractive and growing market," said Phil Arra, senior vice president of Hunt.
Cralley added, "Edge is expanding its product styles and designs to meet the dynamic needs of the market. Edge is already investing in product development and expects the new SKUs to hit the market early next spring. Additional investments are being put into a major new product positioning campaign and support programs. It is very clear to us that Hunt will allow us to continue to invest for success in one of the most innovative flooring systems to come to market in the last decade.
"This transaction is a positive event for us here at Edge, and we believe it will ultimately translate to an improved ability to provide a unique, quality product offering. We look forward to our continued partnership and growth with our existing as well as our new customers," said Cralley.
Hunt Special Situations Group, L.P. (www.huntssg.com ) is a private equity group focused on constructive investments in the middle market. Hunt brings its financial, operational and business resources to its investments. Hunt is a private equity investment affiliate of Dallas-based Hunt Consolidated, Inc. which is operated by Ray L. Hunt with activities in oil and gas, real estate and principal investing.
