M&A Deal Summary

Mohawk Industries Acquires Foss Floors

On July 26, 2022, Mohawk Industries acquired manufacturer Foss Floors from Wynnchurch Capital

Acquisition Highlights
  • This is Mohawk Industries’ 1st transaction in the Manufacturing sector.
  • This is Mohawk Industries’ 5th transaction in the United States.
  • This is Mohawk Industries’ 2nd transaction in Georgia.

M&A Deal Summary
Date 2022-07-26
Target Foss Floors
Sector Manufacturing
Buyer(s) Mohawk Industries
Sellers(s) Wynnchurch Capital
Deal Type Add-on Acquisition
Advisor(s) Stifel, Nicolaus & Co., Inc. (Financial)
Perkins Coie
McDermott Will & Emery (Legal)

Target

Foss Floors

Rome, Georgia, United States
Foss Floors is a manufacturer of specialty engineered fibers. Foss develops innovative non-woven, environmentally friendly, and anti-microbial fiber solutions for a wide variety of industries and applications, including commercial, residential, municipal/civil, craft/hobby, marine, and medical. Foss was on a strong growth trajectory and sought to partner with an operationally focused investor to support its long-term growth plan. Foss Floors is based in Rome, Georgia.

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Buyer(S) 1

Buyer

Mohawk Industries

Calhoun, Georgia, United States
Category Company
Founded 1988
Sector Building Materials
Employees43,300
Revenue 11.1B USD (2023)
DESCRIPTION
Entrance to Mohawk Industries' corporate headquarters in Calhoun, Georgia.
Entrance to Mohawk Industries' corporate headquarters in Calhoun, Georgia.

Mohawk Industries is a flooring manufacturer that creates products to enhance residential and commercial spaces around the world. Mohawk's vertically integrated manufacturing and distribution processes provide competitive advantages in the production of carpet, rugs, ceramic tile, laminate, wood, stone, and vinyl flooring. Mohawk Industries was founded in 1988 and is based in Calhoun, Georgia.

DEAL STATS #
Overall 12 of 12
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 10 of 10
State (Georgia) 2 of 2
Country (United States) 5 of 5
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-03 Vitromex

San Antonio, Texas, United States

Vitromex is a provider in the manufacture of glazed ceramic, porcelain, mosaics, and decorative tile floor and wall designs for home and commercial purposes. Vitromex was founded in 1967 and is based in San Antonio, Texas.

Buy $293M

Seller(S) 1

SELLER

Wynnchurch Capital

Rosemont, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 9.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Wynnchurch Capital is a private equity firm focused on middle-market company investments in the US and Canada. Wynnchurch looks to commit $50 to $750 million of equity per platform. Sectors of interest include manufacturing, business services, logistics, energy and power services, and value-added distribution. Prospective transaction types include management buyouts, recapitalizations, corporate carve-outs, restructurings, turnarounds and growth capital situations. Wynnchurch Capital was formed in 1999 and is based in Rosemont, Illinois.

DEAL STATS #
Overall 29 of 36
Sector (Manufacturing) 4 of 6
Type (Add-on Acquisition) 11 of 12
State (Georgia) 1 of 1
Country (United States) 24 of 29
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-21 FCA Packaging

Moline, Illinois, United States

FCA Packaging is a provider of custom industrial packaging that includes wood, steel, corrugated and hybrid products, as well as expendable, reusable, and returnable solutions. FCA Packaging was founded in 1985 and is based in Moline, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-19 Industrial Service Solutions

Houston, Texas, United States

Industrial Service Solutions is a provider of industrial field services, repair, and refurbishment of equipment found in most industrial and manufacturing facilities in North America. Industrial Service Solutions was founded in 2007 and is based in Houston, Texas.

Buy -
Mergr

Product

Company

Legal