Cincinnati, OH, November 29-- Capitol Flooring of Carthage has completed its merger with Columbus-based Rite Rug Co. Inc., which was announced earlier this month, according to the Cincinnati Business Journal.
Capitol founder David Neal said now was the right time for his company to join forces with the bigger operation.
"The timing was nice," Neal said. "You know, all the benefits of a big-name company, improving buying power, ability to service customers better. And let's be frank, it expanded our horizons."
Neal estimated that the merger has pushed his personal business plan forward by 10 years and stressed that nothing has changed "one iota" at his company.
Capitol Flooring started in 2001 with earnings of $250,000 and this year topped $3.5 million. The company sells and installs carpeting, ceramic tile and vinyl flooring for commercial clients. Neal's niche has been rental properties.
With the merger completed, he expects to top $5.2 million in 2005.
Markets have expanded, too. Before, Neal worked only in the Greater Cincinnati and Dayton areas. Now, with Rite Rug's scope, he'll add Indianapolis, Louisville and Lexington to his service area.
Rite Rug Co. Inc. created a new property management division with the merger. Prior to buying Capitol, Rite Rug had already dealt with many other segments of the carpeting and flooring industry, Neal said.
