M&A Deal Summary

Artivo Surfaces Acquires Virginia Tile

On October 9, 2024, Artivo Surfaces acquired distribution company Virginia Tile from Harren Equity Partners

Acquisition Highlights
  • This is Artivo Surfaces’ 2nd transaction in the Distribution sector.
  • This is Artivo Surfaces’ 2nd transaction in the United States.
  • This is Artivo Surfaces’ 1st transaction in Michigan.

M&A Deal Summary
Date 2024-10-09
Target Virginia Tile
Sector Distribution
Buyer(s) Artivo Surfaces
Sellers(s) Harren Equity Partners
Deal Type Add-on Acquisition
Advisor(s) Houlihan Lokey (Financial)

Target

Virginia Tile

Sterling Heights, Michigan, United States
Virginia Tile is an independent distributor of ceramic, porcelain, and natural stone tile. Virginia Tile was founded in 1928 and is based in Sterling Heights, Michigan.

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Buyer(S) 1

Buyer

Artivo Surfaces

Los Angeles, California, United States
Category Company
Sector Building Materials
DESCRIPTION

Artivo Surfaces is a multi-regional flooring company. Their extensive portfolio features a diverse selection of ceramic, porcelain, natural stone, hardwood, luxury vinyl, and all necessary installation materials. Combining a century of expertise with innovative design and premium products, serving both residential and commercial markets. Artivo Surfaces is based in Los Angeles, California.

DEAL STATS #
Overall 2 of 3
Sector (Distribution) 2 of 3
Type (Add-on Acquisition) 2 of 3
State (Michigan) 1 of 1
Country (United States) 2 of 3
Year (2024) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-09 Galleher

Santa Fe Springs, California, United States

Galleher is a floor covering distributor, serving builders, contractors and retailers. Galleher distributes a broad offering of hardwood, resilient, vinyl and laminate flooring as well as carpet and installation accessories to more than 5,000 customers while also providing unique custom hardwood manufacturing capabilities. Galleher was founded in 1937 and is based in Santa Fe Springs, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-23 Tom Duffy

Manteca, California, United States

Tom Duffy is a wholesale flooring product distributor. Tom Duffy was founded in 1956 and is based in Manteca, California.

Buy -

Seller(S) 1

SELLER

Harren Equity Partners

Charlottesville, Virginia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 450M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Harren Equity Partners LLC is an East Coast US-based private equity firm focused on mid-sized acquisitions, recapitalizations and growth capital financings. Harren is a generalist firm and will consider companies in a broad range of industries, including aerospace/defense, automotive, business services, building materials, energy services, furniture, industrial machinery, medical products, natural resources, healthcare services, restaurants, retail, and recycling. Prospective companies typically have sales of $30 to $300 million, EBITDA of $7 to $30 million, and are located in North America. Harren prefers businesses with defensible markets positions, proven management, and strong growth potential. Harren Equity Partners LLC was formed in 2000 and is based in Charlottesville, Virginia.

DEAL STATS #
Overall 23 of 23
Sector (Distribution) 1 of 1
Type (Add-on Acquisition) 10 of 10
State (Michigan) 1 of 1
Country (United States) 23 of 23
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-07 Velosio

Dublin, Ohio, United States

Velosio delivers fresh ideas and unmatched know-how for cloud, ERP, CRM, business intelligence, office automation, and other business solutions. Velosio was founded in 1991 and is based in Dublin, Ohio.

Sell -
Mergr

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