M&A Deal Summary

Rainier Partners Acquires Consolidated Flooring

On July 10, 2023, private equity firm Rainier Partners acquired distribution company Consolidated Flooring from Corridor Capital

Acquisition Highlights
  • This is Rainier Partners’ 1st transaction in the Distribution sector.
  • This is Rainier Partners’ 4th transaction in the United States.
  • This is Rainier Partners’ 1st transaction in Michigan.

M&A Deal Summary

Date 2023-07-10
Target Consolidated Flooring
Sector Distribution
Buyer(s) Rainier Partners
Sellers(s) Corridor Capital
Deal Type Secondary Buyout
Advisor(s) Croft & Bender LP (Financial)
Morgan Lewis (Legal)

Target

Consolidated Flooring

Romulus, Michigan, United States
Consolidated Flooring distributor and installer of floor covering products for the repair, maintenance and restoration of commercial, healthcare, multi-family and insured residential properties in Michigan. Consolidated Flooring is based in Romulus, Michigan.

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Buyer(S) 1

Buyer

Rainier Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2020
PE ASSETS 375M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Rainier Partners is a private equity firm focused on acquiring and investing in lower middle-market service-based companies. Areas of interest include business services, education, marketing, information services, financial services, consumer services, healthcare services, testing, industrial services, and engineering. Rainier Partners will consider businesses throughout North America with a preference for companies in the Western US and Canada. Prospective transaction situations include buyouts, divestitures, and turnarounds. Rainier Partners was formed in 2020 and is based in Seattle, Washington.


DEAL STATS #
Overall 4 of 5
Sector (Distribution) 1 of 2
Type (Secondary Buyout) 1 of 1
State (Michigan) 1 of 2
Country (United States) 4 of 5
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-08 Pet Food Express

Oakland, California, United States

Pet Food Express is an independent pet retailer, dedicated to helping pets live longer, healthier lives. Pet Food Express is based in Oakland, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-11 SCI Floor Covering

Romulus, Michigan, United States

SCI Floor Covering is a distributor and installer of floor covering products for the repair, maintenance, and restoration of commercial, healthcare, multi-family and insured residential properties in Michigan. SCI Floor Covering was founded in 1980 and is based in Romulus, Michigan.

Buy -

Seller(S) 1

SELLER

Corridor Capital

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Corridor Capital is a private equity firm focused on acquiring lower middle-market companies in the specialty manufacturing, business services, healthcare services, technology services, and financial services sectors. Target companies are typically profitable ($2 to $8 million of EBITDA) and exhibit strong industry positions, identifiable growth possibilities, and stable/diverse customers. Corridor Capital was established in 2005 and is headquartered in Los Angeles, California.


DEAL STATS #
Overall 10 of 11
Sector (Distribution) 1 of 1
Type (Secondary Buyout) 3 of 3
State (Michigan) 1 of 1
Country (United States) 9 of 10
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-02 Circuitronics

Farmers Branch, Texas, United States

Circuitronics is a provider of a specialized printed circuit board assembly and related electronic manufacturing services. Circuitronics was founded in 1971 and is based in Farmers Branch, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-28 SPM

La Grange, Illinois, United States

SPM is a brand consultancy and integrated marketing communications firm that specializes in the healthcare industry. SPM was founded in 1983 and is based in La Grange, Illinois.

Sell -