M&A Deal Summary

Happy Floors Acquires Stone Source

On April 1, 2022, Happy Floors acquired building materials company Stone Source from Graycliff Partners and Founders Equity

Acquisition Highlights
  • This is Happy Floors’ 1st transaction in the Building Materials sector.
  • This is Happy Floors’ 2nd transaction in the United States.
  • This is Happy Floors’ 1st transaction in New York.

M&A Deal Summary

Date 2022-04-01
Target Stone Source
Sector Building Materials
Buyer(s) Happy Floors
Sellers(s) Graycliff Partners
Founders Equity
Deal Type Add-on Acquisition
Advisor(s) SLATE Partners (Financial)
Carter Ledyard & Milburn (Legal)

Target

Stone Source

New York, New York, United States
Stone Source provides natural stone, porcelain tile, ceramic tile, glass tile, engineered stone, and reclaimed wood. Stone Source also distributes products for residential applications. Stone Source was founded in 1988 and is based in New York City.

Search 214,238 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 1

Buyer

Happy Floors

Miami, Florida, United States

Category Company
Founded 1987
Sector Distribution
DESCRIPTION

Happy Floors is an importer and distributor of premium Italian and Spanish ceramic and porcelain tile for use in residential and commercial flooring applications. With a focus on the higher-end tile segment, the company distributes its products across the United States to a diversified customer base of top-performing specialty floor covering stores. Happy Floors was founded in 1987 and is based in Miami, Florida.


DEAL STATS #
Overall 2 of 2
Sector: Building Materials M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
State: New York M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-01 Ceramic Technics

Alpharetta, Georgia, United States

Ceramic Technics is an importer and distributor of sophisticated, high quality porcelain, ceramic, natural stone, glass, water-jet mosaics, and LVP (SPC) offering hundred of collections to clients throughout the retail, multi-family, hospitality, healthcare, corporate and educational sectors. Ceramic Technics was founded in 1988 and is based in Alpharetta, Georgia.

Buy -

Seller(S) 2

SELLER

Graycliff Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Graycliff Partners is a private equity firm focused on private equity and mezzanine investments in middle-market companies throughout the US. The Firm's mezzanine practice does not have any sector preferences and looks to invest $10 to $50 million in profitable companies with at least $10 million in revenue. Funds are used to support buyouts, growth needs, divestitures, or consolidations. Graycliff's private equity group looks to acquire middle-market companies in the manufacturing, service, and distribution sectors. The Firm looks for businesses with $10 to $200 million of revenue. Graycliff Partners was established in 1991 and is based in New York City.


DEAL STATS #
Overall 28 of 38
Sector: Building Materials M&A 3 of 4
Type: Add-on Acquisition M&A Deals 15 of 18
State: New York M&A 5 of 6
Country: United States M&A 25 of 35
Year: 2022 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-01 LTI

Baldwin Park, California, United States

LTI is a developer, manufacturer, and sells specialty discharge lamps to industrial and theatrical OEM customers and distribution partners worldwide. LTI's xenon and mercury xenon lamps provide very high intensity, pinpoint sources of light for specific user applications, including cinema and video projection, exhibition and architectural lighting, and medical and industrial applications. LTI was founded in 1999 and is based in Baldwin Park, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-18 Landmark Structures

Fort Worth, Texas, United States

Landmark Structures is a specialty engineering, contracting company and manufacturer that designs, fabricates, installs, and services elevated water storage tanks. Landmark Structures was founded in 1974 and is based in Fort Worth, Texas.

Buy -
SELLER

Founders Equity

New York, New York, United States

Investor


Category Private Equity Firm
Founded 1969
PE ASSETS 160M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Founders Equity is a private equity firm that looks to lead lower middle-market company investments. Founders looks to invest up to $10 million of equity in companies with revenues between $20 and $150 million and cash-flow between $2 and $15 million. Sectors of interest include business and marketing services, outsourcing and logistics, healthcare services, environmental services, security systems, oilfield services, consumer products and services, food/food Services, franchising, and niche manufacturing. Prospective transactions are generally located East of the Rocky Mountains and include management buyouts, recapitalizations, turnarounds, growth financings, take privates, and corporate divestitures. Founders Equity was formed in 1969 and is based in New York City.


DEAL STATS #
Overall 6 of 6
Sector: Building Materials M&A 2 of 2
Type: Add-on Acquisition M&A Deals 2 of 2
State: New York M&A 3 of 3
Country: United States M&A 6 of 6
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-21 Oncology Services International

Montebello, New York, United States

Oncology Services International, Inc. is a provider of radiation therapy equipment, including linear accelerators and CT simulators. Oncology Services International was founded in 1985 and is based in Montebello, New York.

Sell -