Year in Review: 2025 Brought Another Year of Mediocre Activity Due to Uncertainty

By Jessica Chevalier

By the data, 2025 hasn’t been a bad year-it’s been a mediocre one. However, that doesn’t exactly line up with what we had hoped for at the onset. Once again, the rebound hyped for the second half of 2025 never materialized-neither for the flooring industry nor the larger economy. In some ways, it was a year in which sentiment readings gave the clearest picture of what it was like to live through it, and these showed that both consumers and business professionals were tentative about the future, particularly due to tariffs and their impacts, and therefore disinclined to make significant moves until the dust settled.

In fact, this marked the third consecutive year of relative stasis for the industry, following the frantic Covid business years of 2020 and 2021 and the moderating of 2022. Hopes are that 2026 will bring what 2025 did not: confidence that yields a loosening of the markets and business activity, and a return to the sense that this activity won’t backfire due to sudden shifts in the tariff winds. 

KEY FLOORING STORIES

In early November, AHF Products announced that it had acquired Wellmade’s Cartersville, Georgia-based rigid LVT plant. With this acquisition, the company now operates 12 manufacturing facilities-11 in the U.S. and one in Cambodia-providing the company domestic production in all its key categories. Rigid core is the fastest-growing segment in the resilient market, and resilient is the fastest-growing category in the flooring market. 

This is the sixth major acquisition for AHF in as many years. In 2019, the company acquired LM Flooring. In 2021, it acquired Parterre and American OEM. In 2022, it acquired assets of Armstrong, which it was spun off of in 2018. In 2023, it acquired Crossville, and in 2024, it acquired two sawmills from Allegheny Wood Products to fuel its solid hardwood operations. While Brian Carson, who had served as CEO since its spin-off, departed in 2025, Brent Emore, named interim CEO at Carson’s departure, was give the permanent position in May.

Also in November, Beaulieu International announced plans to acquire Congoleum, providing the company with a domestic manufacturing position in the U.S. market for hard surface flooring. Once a major U.S. flooring brand, Congoleum faltered in recent years, leading to the closure of its Trenton, New Jersey tile plant in February 2022. The closure of the tile plant resulted in the discontinuation of its Alternatives VCT, DuraCeramic, Cleo Home and Cleo Contract lines. Roger Marcus, former president and chief executive officer of Congoleum, died November 4, the day before news of the sale was made public.

In late October, Mannington announced that it would close its residential carpet business in Q1 2026, and in September, it sold the non-flooring assets of Burke Manufacturing to Polycorp, owned by Arsenal Capital Partners. Mannington’s residential carpet offering went to market under the Phenix brand. The company entered the residential carpet segment in 2020 with the acquisition of Phenix Flooring in Dalton, Georgia and Pharr Fibers and Yarns in McAdenville, North Carolina. These acquisitions occurred at the beginning of Covid. The company expanded its portfolio with the 2022 acquisition of Georgia Carpet Finishers in Chatsworth, Georgia.

Tom Pendley, president and CEO of Mannington Mills, reported, “The departure of Invista and the Stainmaster brand from the carpet fibers business, and the continued consumer shift to resilient flooring, has forced us to reevaluate residential carpet in our portfolio. This has led us to make the difficult decision to exit residential carpet.”

Avery Denison acquired Taylor Adhesives from Meridian in October. This means that Meridian Adhesives Group is no longer in the flooring business. With this acquisition, the flooring business transitioned from private-equity ownership to being publicly traded.

France-based Gerflor acquired Matter Surfaces, a provider of entrance systems and architectural surface solutions, in October. Barry Hume, who has served as CEO of Matter Surfaces since 2017, will continue to lead the company and its team from its office in Stoughton, Massachusetts, reporting to Benjamin Bachman, CEO of Gerflor USA. 

With U.S. headquarters in Chicago, Gerflor’s footprint extends across the institutional, athletic and commercial segments with the Taraflex, Connor Sports, Sport Court, SnapLock, StageStep, Greatmats, and Progress Profiles USA brands. 

Lastly, U.S.-owned United Surfaces Solutions stopped production at its SPC LVT plant in Chatsworth, Georgia in September. United Surface Solutions was one of the first U.S.-owned and operated producers of SPC. The company’s 400,000-square-foot facility, which was formerly Beaulieu of America’s commercial carpet mill, was reconfigured into a state-of-the-art LVT plant in 2021. 

THE PARALYZING UNCERTAINTY OF TARIFFS

Since taking office on January 20, President Trump has been utilizing tariffs-and the threat of tariffs-to address trade and policy disagreements. While these are being utilized as a means of leverage with trading partners, ultimately it impacts U.S. enterprises and the consumers buying from them. A tariff on imports from Canada, for instance, raises prices for U.S. importers, and these costs are often passed up the supply chain to the end user. However, sometimes, importers will seek to maintain their price in the market through other means, such as value engineering, which could lead to a difference in product quality. 

Due to the fact that many U.S. businesses are globalized, the tariffs also act as a costly consequence for them. For example, according to Santo Torcivia of Market Insights, Chinese resilient flooring imports represented 22% of the total dollar value of the estimated U.S. resilient flooring market in 2024 and 30% of the U.S. LVT market. Though tariffs would theoretically create an advantage for U.S. manufacturers of LVT, the fact is that U.S. manufacturers don’t have the capacity to supply all the LVT that is consumed within the U.S. market, so it either shifts demand to other supplying countries or creates a shortage that drives up prices for LVT end users. 

Keep in mind, as well, that it isn’t just finished products impacted by the tariffs. Materials and components are also affected. So, while a U.S. manufacturer may earn an advantage when its imported competitors are tariffed, it may also be penalized as well, should any part of its operation depend on pieces or supplies from a tariffed country. 

The lesson in all of this may be how difficult it is to undo the fabric of globalized trade that the world has been weaving for decades.

Interestingly, some industries have petitioned Trump for more tariffs on imports, including leaders representing American manufacturers of hardwood plywood, engineered wood flooring and hardwood veneer.

Just as impactful through this period has been the uncertainty wrought by the strategy of using tariffs as a presidential tool of negotiation. The back and forth of tariff threats-the impositions and increases, decreases and exemptions-has put decision-makers and end users alike in wait-and-see mode. 

In early November, the U.S. Supreme Court met to decide whether Trump has the authority as president to impose tariffs, which the constitution states that only Congress can do. Reuters reports that many trade lawyers believe that “if the Trump administration loses, it will simply invoke other trade laws,” so a ruling against Trump’s tariff actions may not ultimately mean an elimination of taxes on trade partnerships. Again, more uncertainty for an industry that is today more than 50% imported.

Will business leaders and consumers eventually get accustomed to the atmosphere of uncertainty and simply get back to business? Only time will tell. But it’s human nature to adapt and move on, so, assuming Trump will find a way to continue using import taxes as leverage, it may simply be the human spirit that gets the markets moving again. 

Further, pent-up demand can’t be held back forever, so even if sentiment remains tentative, business will continue to trickle in. 

RATE CUTS & THE GOVERNMENT SHUTDOWN 

Inflation-wrought by supply chain disruption, Covid-era government subsidies, rising production costs, the tariffs and other factors-has had a significant impact on consumer sentiment and spending over the past few years. 

With costs on groceries and housing both negatively impacting the average American’s wallet, it’s difficult for them to consider renovating their floors, a deferrable venture, or voluntarily signing on for a larger mortgage. Wisdom dictates holding tight and seeing where the chips land. 

Heading into 2025, there was an expectation that the Federal Reserve would cut interest rates to manage these inflationary pressures. In fact, no cuts came until Q3. Ultimately, there were two quarter-point rate cuts in 2025, one in September and one in October, with many Americans hoping for a third before the year’s end. 

However, on October 1, the Federal government shut down for 44 days after Congress failed to pass funding legislation for 2026, leaving Fed chair Jerome Powell reporting that, without the economic indicators being released by federal agencies, he and the Fed may not have the visibility they need to make a determination around another cut.  

Currently, inflation stands at 3.0% for the 12 months ending September 2025. However, the rate of increase has slowed considerably since 2022. The Fed’s target for inflation is 2%. 

A HOUSING STORY

On the residential side, existing-home sales, which generate flooring purchases both before and after a sale, averaged 4.05 million units (seasonally adjusted annual rate) monthly in 2025, just slightly below the average of 4.06 from 1980 to present-the population has grown by 50% since 1980. Affordability and sluggishness on the supply side due, in part, to the fact that homeowners who locked in low interest rates in the pandemic are staying in their homes rather than trading up for a larger space and a higher rate, made for a year that felt like it could have been more than it was. 

Similarly, on the new-homes side, the 2025 average rate was 680,000, buoyed by a surge to 800,000 in August. With the long-term average for new home sales in the U.S. from 1963 until 2025 of approximately 656,300 units annually (bearing in mind that the population since 1963 has nearly doubled), 2025 was, technically, an above-average year. However, the U.S. shortfall of 1.5 million homes means that even a decent year still isn’t enough to meet demand. 

The remodeling market wasn’t as strong in 2025 as it has been the prior two years. Again, this can be attributed to poor sentiment among consumers, who, feeling panicky due to the uncertainty of the economy, would rather live in what they have and keep their capital stored away for better days. 

COMMERCIAL CONSTRUCTION

With regard to commercial construction, architecture billings remained depressed in 2025, never once entering positive territory. As the index indicates construction activity nine to 12 months ahead, with flooring at the back end of that, the second half of 2026 offers the greatest opportunity.

Dodge’s non-residential index was more positive than negative, particularly strong in June when it was up 39%. This could indicate that the unspecified project market is more active than the specified market or that projects initiated but put on hold have now began to pull through. In fact, the fastest growth has been in data centers, which feature virtually all concrete flooring.

The largest sector of the commercial market, corporate, has been sub-par since the pandemic. While there are some initiatives to bring workers back to the office full time, corporations continue to be conservative on spending, with renovation outperforming new construction. 

With the Baby Boomers now booming into their golden years-the youngest will turn 65 by 2029-both the acute care and senior living markets are expanding to accommodate their needs. 

Education is an active segment. Higher education enrollment continues to grow, and with institutions using their facilities to attract students and differentiate themselves, activity remained strong. K-12 is also experiencing growth, as education changes due to the integration of technology and the personalization of educational programming.

The hospitality market had a weak year in 2025, with new construction activity low. Renovation was somewhat more active. Unsurprisingly, in an inflationary economy, the upper end outperformed the middle and lower end.

The multifamily market was stable in 2025, with the shortage of new, affordable homes for renters to move into, keeping them locked in rentals. 

Retail has been touch-and-go since the pandemic and is now generally seen to be performing better than it was, with higher-end retail performing best. 

ACQUISITIONS & PRIVATE EQUITY

Consolidation continued in 2025, with acquisitions in all markets and channels, though relatively few took place in the retail and commercial dealer segment, with Flooring Partners acquiring The Flooring Edge, then Rainier Partners’ SCI Flooring, primarily focused on multifamily and builder work, acquiring Flooring Partners. In addition, Atlanta Flooring Design Centers acquired Signature Floors and Design, also primarily focused on builder business.  

Reports Santo Torcivia of Market Insights, “Smaller flooring retailers are declining slightly while big-box outlets expanded their store base in 2025. As of November, Floor & Décor added 41 stores, Home Depot added 20 stores, Lowe’s added ten stores, while an estimated 70 independent retailers closed their doors. “

In 2025, nine industry acquisitions took place in the retail and commercial dealer segments: 

• Universal Metro acquired Commercial Flooring Services

• Reddi acquired Great American Hardwood Flooring

• Lowe’s acquired Artisan Design Group 

• Cornerstone Flooring acquired Craft Croswell

• Rainier Partners’ SCI Flooring acquired Flooring Partners 

• Rasa Floors acquired Brothers Flooring & Interiors 

• Vilas Partners holding company acquired Creative Tile Concepts

• Artisent Floors acquired Elite Flooring 

• Impact Property Solutions acquired Property Services from Interior Logic Group 

Manufacturing led in acquisitions with 13:

• Laminam purchased a controlling stake in Iberstone

• Sika took control over HPS Schönox

• Havwoods acquired Castle Bespoke Flooring

• Natco acquired Orian

• DFS Flooring acquired The Works, Floor & Wall

• Private equity firm GreyLion acquired Torginol 

• Ecore International acquired Pro-Techs Surfacing

• Beno J. Gundlach Company acquired Ceno USA

• AHF Products acquired the assets of Wellmade

• Avery Dennison Corporation acquired Taylor Adhesives

• Mohawk announced its intent to acquire Bremworth 

• Gerflor Group acquired Matter Surfaces

• Beaulieu International Group acquired Congoleum

There were three acquisitions among distributors: 

• Wilsonart Engineered Surfaces acquired the woodworking products distribution business of Virginia Tile

• Artivo Surfaces acquired the Walker Zanger and Anthology brands from Mosaic Companies

• Reader’s Wholesale Distributors and the Adleta Corporation acquired the Southwest assets (formerly Swiff-Train) of UCX 

Lastly, in technology, Leap Tools acquired QFloors.

Private equity (PE) continues to dig its roots into the flooring industry with quite a few of these acquisitions funded by PE dollars. As Chuck Bode said in November’s “Contractor’s Corner” column, “It seems that the appeal of PE acquisitions was an opportunity for aging Boomer owners to cash in on all their hard work over many years.” That statement applies not only to commercial contractors but to players in a variety of flooring industry roles, who had built their businesses up to be substantial enough that finding a potential buyer with the capital and interest to take over could be challenging. 

FLOORING TRENDS

In terms of flooring material usage, the trends of the last handful of years largely continued in 2025. 

LVT and resilient flooring continued to gain share of total flooring consumption, both residentially and commercially. This market did, however, face challenges due to tariffs, as LVT is largely imported from Asian countries. While U.S. production has increased over recent years, it still doesn’t come close to supplying U.S. consumption. 

While SPC has dominated LVT sales on the residential side for the past several years, SPC failures, largely in low-cost Asian imports, have reignited interest in WPC, thicker SPCs, laminates and development of hybrid products. 

At the same time, the mediocrity of the builder, multifamily and existing-home markets has meant for a less dynamic year for residential resilient.

Commercially, resilient flooring has a strong foothold in all segments of the market, with sheet products perennially strong in healthcare for surgical and clean-room spaces, and VCT and LVT used for patient rooms, back of house and lower foot traffic common spaces. In hospitality, LVT’s use is growing in guest rooms. In education, LVT is sometimes taking share from VCT, though VCT’s foothold, especially in K-12, remains strong. Retail is another segment that uses both VCT and LVT, with LVT a strong choice for quick-turn renovation. Currently, the corporate sector is more remodel work than new construction, and that bodes well for LVT, which offers more acoustic mitigation than polished concrete, which is also popular in the sector. In addition, much of the multifamily market has traded in broadloom for LVT, hoping to make spaces more attractive to renters and get a longer lifecycle out of their flooring investment.

Market Insights reports that the porcelain, hardwood and laminate flooring categories held their share in 2025. In 2024, porcelain accounted for just over 30% of the market. While porcelain is costly to install and requires a higher degree of installation skill than click-together hard surface materials, it offers a truly waterproof installation that will last for decades. In addition, the advent of larger formats that require fewer grout lines-the perennial weakest link of a porcelain installation-have yielded installations stronger, more attractive and even better suited for use across the commercial sectors.  

Hardwood’s share of the market in 2024 was 8.5%. The category has faced tough years with the plethora of lookalikes in the market, not to mention the challenges of manufacturing a product from natural origins versus chemical ones. However, it does have the advantage of being the most desired flooring material on the market. 

The past several years have brought sawmill closures, which impact the entire hardwood supply chain. And the tariffs on Canada have complicated operations for many North American players, which have a highly reciprocal relationship with the U.S. hardwood market, importing raw material from the U.S. to Canada and vice versa. 

One bright spot for the hardwood category in recent years has been the development of hardened or densified wood flooring by AHF and Bjelin, which should open up more opportunities for hardwood to be used commercially.

Laminate’s share of the market in 2024 was 4.4%. The category has a compelling story against the vinyl juggernaut with appealing visuals, strong durability, no-PVC construction and better waterproofing than it had in the past. That said, its success is tightly intertwined with housing marketing activity, which has been mediocre.

Broadloom and area rugs experienced a small share loss in 2025, says Market Insights. Keep in mind that, for quite a few years, a small share loss would have been considered a blessing, as LVT ate broadloom’s marketshare greedily. Today, there is an active market fabricating broadloom into area rugs for both residential and commercial use. To read more on this topic, turn to page 81.  

With the corporate market hit-and-miss, carpet tile, used heavily in this market segment, has seen its business bumpy. As of midyear, Market Insights estimated the category’s year-over-year sales to be down 3.5%. 

At this point in time, Market Insights estimates that the flooring market will close 2025 with a low single-digit decline of 2.5% to 4.5%. However, tariff rates could push total flooring sales up 0.5%.

MONTH BY MONTH NEWS RECAP

January

• Flooring Partners acquired Ohio-based independent flooring company The Flooring Edge, which includes Barrington Carpet & Flooring Design, Carpet Country & Design Center and Young’s Floor Covering.

• Floors & More named Vinnie Virga Jr. president.

• Universal Metro announced a strategic partnership with Grant and Courtney Petruzzelli to acquire Commercial Flooring Services.

• Will Creswell was appointed president of Tuftco Corp. and will continue to serve as chairman of the board of Tuftco Finishing Systems. Keith White was promoted from executive vice president to president of Tuftco Finishing Systems. Long-time executive Mike Minter retired after 40 years with Tuftco, most recently as president of Tuftco Corp.

• Strategic Value Partners (SVP) and Bjelin Group announced the signing of an agreement whereby funds managed by SVP will make a $205 million preferred equity investment in Bjelin Group to facilitate its long-term growth ambitions.

• Uzin Utz North America named Marco Ludwig president.

• Laminam purchased the controlling stake in Iberstone from the Zapatero family.

• Kelly Dall was named president of RD Weis, following founder Randy Weis’ retirement in 2024.

• Jim Aaron stepped down as executive director of the Floor Covering Education Foundation due to financial constraints that required the organization to streamline operations, and Kaye Whitener was named executive director.

• Interface revealed a first-of-its-kind carbon-negative Nora rubber flooring prototype that stores more carbon than is emits through its manufacture.

• Leap Tools, maker of Roomvo, acquired QFloors.

• Panariagroup USA launched a new polishing line at its manufacturing facility in Lawrenceburg, Kentucky.

• Artivo Surfaces unified Galleher, Tom Duffy and Trinity Hardwood into a single entity under the brand name Galleher Duffy.

• Zachary Adams, previously president of North America for Välinge Innovation, was named president of Evolutions Floors and New Space Flooring.

February

• AHF Products announced the departure of president and CEO Brian Carson, who led the company for six years and worked in the flooring industry for 35. Carson was named CEO of The Pittsburgh Paints Company.

March

• Sika acquired HPS North America, the U.S. distributor of Schönox.

• Havwoods acquired Castle Bespoke Flooring.

• Reddi acquired Great American Hardwood Flooring.

• Bjelin formed Bjelin Group, consolidating seven companies under one structure fully owned by Pervanovo Invest AB. Fredrik Alfredsson, formerly global head of sales, was named CEO of Bjelin Group; Magnus Eriksson was appointed CFO.

• The National Wood Flooring Association announced that Michael Martin, president and CEO, would step down from his position to pursue a new opportunity.

• FBI Atlanta raided Wellmade Industries’ Cartersville, Georgia plant as part of a multiyear investigation into labor trafficking. Zhu Chen, the company’s owner, and Jiayi Chen were arrested and face charges of trafficking persons for labor or sexual servitude. 

April

• Ascend initiated a Chapter 11 process in the U.S. Bankruptcy Court for the Southern District of Texas. Ascend is one of the last remaining suppliers of nylon 6,6 polymer to the carpet industry, using the former Solutia assets.

• The Natco Home Group signed a deal to acquire the Orian Rugs brand from SP Orian. The companies are the last two remaining domestic manufacturers of woven rugs.

• DFS Flooring acquired the assets of The Works, Floor & Wall.

• Virginia Tile, a division of Transom Capital Group-backed Artivo Surfaces, announced the sale of its woodworking products distribution business to Wilsonart Engineered Surfaces. 

• UCX announced that Paul Castagliuolo, president since 2016, would step down from his position, effective January 1, 2026, and, in addition to the CEO role, Ray Mancini would assume the role of president on an interim basis. 

• Pak-Lite announced the addition of DuBoise White as president and CEO. 

• Vandewiele announced the promotion of Kevin Whiteside to president. 

May

• Warren Buffett announced that he would step down as Berkshire Hathaway CEO at the year’s end and would recommend Greg Abel succeed him.

• HMTX named group president Debarati Sen as chief executive officer, replacing Harlan Stone, who transitioned to the role of executive chairman.

• Universal Fiber Systems appointed Jonathan Craig as chief executive officer. 

• Roppe Holding Company promoted Norman J. Freebeck to president. 

• AHF Products appointed Brent Emore chief executive officer, following Brian Carson’s departure in February.

June

• Lowe’s acquired Artisan Design Group for $1.325 billion. ADG was formed in 2016 through the combination of Floors Inc. and Malibu Floors and subsequently made 19 acquisitions to become a nationwide provider of design, distribution and installation services for interior surface finishes. 

July

• Artivo Surfaces, parent company of Virginia Tile and Galleher Duffy, acquired the Walker Zanger and Anthology brands from Mosaic Companies.

• Atlanta Flooring Design Centers acquired Signature Floors and Design.

• Torginol, a manufacturer of products in resinous flooring systems, was acquired by private equity firm GreyLion.

• Cornerstone Flooring acquired Craft Croswell.

• Artivo Surfaces, parent company of Virginia Tile and Galleher Duffy, backed by Transom Capital, entered into definitive agreement to acquire the Walker Zanger and Anthology brands from Mosaic Companies.

• UCX agreed to sell its Southwest assets (formerly Swiff-Train) to Reader’s Wholesale Distributors and Adleta Corporation.

• The National Wood Flooring Association named Stephanie Owen as president and CEO.

• Specialty Tile Products named Anne Demers as new CEO.

• The National Association of Floor Covering Technicians named Scott Bohaker executive director.

• Ross Langhorne joined Lynx Flooring as the president of Shehadi Commercial Flooring.

August

• Wellmade Performance Flooring filed for Chapter 11.

• New York City-based commercial flooring contractor Sherland & Farrington, Inc. filed chapter 11 bankruptcy in the Eastern District of New York bankruptcy court.

• Ecore International named Jeff Coté president and chief operating officer.

• Jim Cusick was named interim president of Bentley Mills, following Jay Brown’s decision to leave.

• AHF Products announced it would wind down production at its Somerset, Kentucky facility by December 12. Production of densified wood products will continue at the facility through February 2026. 

• Rainier Partners and its portfolio company SCI Flooring announced its acquisition of Flooring Partners. 

• Arley Wholesale announced that Scott Levy acquired 100% ownership of the company from Gevanthor and Levy family members.

• Ecore International announced the acquisition of Pro-Techs Surfacing, a playground surfacing installer. 

September

• Rasa Floors acquired Brothers Flooring & Interiors.

• United Surface Solutions, a manufacturer of decorative SPC products, idled production.

• Beno J. Gundlach Company acquired Ceno USA, a floor prep and finish equipment company.

• Interprint USA completed a $22 million, 57,000-square-foot expansion of its Pittsfield, Massachusetts facility, adding two new printing presses.

• Roseburg Forest Products ceased operations at its last remaining hardwood plywood plant. 

• Vilas Partners holding company acquired Creative Tile Concepts, DBA Creative Tile & Hardwood Floors. 

• Bret Perkins and Randy Lovelace acquired Nantahala Flooring Outlet in Franklin, North Carolina.

• The Ceramic Tile Education Foundation announced the appointment of Noah Chitty as its new chairman of the board of directors, succeeding Mark Shannon.

October

• AHF Products received approval from the U.S. Bankruptcy Court for the Northern District of Georgia to acquire the assets of the Wellmade manufacturing facility in Cartersville, Georgia. The acquisition positioned AHF as a fully integrated domestic manufacturer across all major hard surface flooring categories, including the fast-growing rigid core segment.

• Avery Dennison Corporation completed the acquisition of Taylor Adhesives for $390 million from Meridian.

• It was announced that Mohawk Industries intends to purchase Bremworth, a New Zealand-based company specializing in wool broadloom.

• Gerflor Group acquired Matter Surfaces.

• Artisent Floors acquired Elite Flooring.

• Steve DeCarlo was named CEO of Somerset and Boen North America.

• Mirage announced Jean-Pierre Thabet’s appointment as president and CEO, succeeding his father, Pierre Thabet.

• TEC Specialty Products named Eric Daliere as CEO.

• HMTX appointed John Henkel interim CEO, following the announcement that CEO Debarati Sen was leaving. Sen was appointed CEO in May. 

• Metropolitan Floors named Trevor Williams president and CEO. 

• Spartan appointed Joe Blogett president.

• Randy Weis was named executive director of the Northeast Floor Contractor’s Association. 

• Mannington announced it would exit its residential carpet business, which went to market as Phenix.

• The Federal Reserve lowered interest rates at its second consecutive meeting, but chairman Jerome Powell cast doubt on expectations of a further rate cut this year.

November

• Impact Property Solutions, a Dallas, Texas-based portfolio company of Blue Sage Capital, acquired of the Property Services division of Interior Logic Group. 

• Xpress Global Systems was acquired by LRT Group.

• AHF Products completed the purchase of the former Wellmade manufacturing facility in Cartersville, Georgia.