Platinum Equity Acquires Paramount Global (Happy Floors & Ceramic Technics)
Los Angeles, CA, July 9, 2021-Platinum Equity announced the acquisition of Paramount Global Surfaces (PGS) from Linsalata Capital Partners.
Headquartered in Miami, PGS goes to market through two floorcovering brands: Happy Floors, which serves a diverse base of more than 6,000 independent dealer customers throughout the United States, and Ceramic Technics, which serves approximately 1,800 A&D firms and 4,000 contractors/installers and corporate customers across multiple commercial and multi-family end-user segments.
Financial terms of the transaction were not disclosed.
PGS is a developer, importer and distributor of porcelain tile and other hard surface floorcoverings used primarily in remodel and replacement solutions by both residential and commercial end users.
Platinum Equity recently acquired Cabinetworks, the largest independently owned manufacturer and distributor of kitchen and bath cabinets in the United States. Other companies the firm previously invested in include: Interior Logic Group, the largest national provider of interior design and finish solutions for the homebuilding industry; PrimeSource, a national distributor of specialty building materials including fasteners serving the new-construction and remodeling markets; and Nilco, a wholesale distributor of specialty building materials and industrial products.