WILsquare Capital Sells Crown Products to ShoreView Industries
St. Louis, MO, June 13, 2022-WILsquare Capital, a St. Louis-based private equity firm, has sold its Crown Products Inc. flooring business to a Minneapolis-based private investment firm, according to the St. Louis Business Journal.
“Terms of the sale, to ShoreView Industries, weren't disclosed. ShoreView, which typically invests in businesses with revenue between $20 million and $300 million, has raised over $1.3 billion of committed capital across four funds since its 2002 founding, according to its website.
“WILsquare formed Bloomington, Minnesota-based Crown Products as a holding company for its flooring businesses with the late 2019 acquisition of Denver-based flooring products distributor Cartwright Distributing. Crown also included WILsquare portfolio company Walcro, a distributor of flooring installation products based in Bloomington, Minnesota, acquired in 2017.
“Since WILsquare formed Crown Products, it expanded its reach across the upper Midwest with the 2020 acquisition of St. Louis-based flooring and flooring installation distributor Jer-And Inc. and its purchase of Tri-State Wholesale Flooring, a Sioux Falls, South Dakota, flooring products distributor, in early 2021.
“Crown Products also grew to 20 locations, expanded product offerings to over 23,000 items and built an e-commerce platform, officials said.”