Dallas, TX, October 5, 2005--Edge Flooring LLC, a company sponsored by Hunt Special Situations Group, L.P., announced today it has completed the acquisition of all the assets of TEF, Inc. (d.b.a. Edge Flooring.
Edge Flooring, which is based in Dalton, Georgia, is a manufacturer of a proprietary engineered tile flooring system for home centers and specialty floor covering retail and distribution markets in the U.S., Canada and Europe. The tile flooring systems are comprised of real porcelain tile mounted on 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 all Lowe's Home Improvement stores.
The Edge Flooring management team will be 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 industries.
Bill Cralley, president and CEO of Edge Flooring LLC, commenting on the acquisition said: "We are extremely pleased to announce our new partnership and investment by Hunt. The financial investment as well as the commitment of non-financial resources will allow our company to achieve its full potential. We look forward to continuing to serve our customers with a unique and differentiated value proposition in the marketplace."
Phil Arra, senior vice president, Hunt Special Situations Group, L.P., said: "We are proud to be part of such a constructive transaction with Edge Flooring, thereby making it possible for a company with such strong commercial prospects to restructure and be positioned for success. The transaction would not have been possible without the support of the company's key customers, suppliers and employees."
