Live Ventures Equity Firm Acquires Flooring Liquidators
Las Vegas, NV, January 20, 2023--Live Ventures Inc., a diversified holding company, has acquiredFlooring Liquidators, a retailer and installer of floors, carpets and countertops in California and Nevada, for $84 million.
As part of the acquisition, Live Ventures will retain Flooring Liquidators’ existing management team and all 625 employees and contractors.
Headquartered in Modesto, California, Flooring Liquidators operates 20 warehouse-format stores and a design center. The 25-year-old business, founded by Steve Kellogg, serves retail and builder customers through three businesses: retail customers through its Flooring Liquidators retail stores, builder and contractor customers through Elite Builder Services Inc., and residential and business customers through 7 Day Stone Inc.
As part of the transaction, Live Ventures also acquired Floorable LLC, the company’s franchise opportunity utilizing proprietary in-home shopping mobile showrooms and an established back-office support system, along with K2L Leasing LLC and SJ &K Equipment Inc.
Live Ventures employs a ‘buy-build-hold’ strategy focused on domestic middle-market companies. Flooring Liquidators' approximately $125 million in annual revenue represents a roughly 50% increase in annual sales for Live Ventures, according to a release.