Eureka Growth Capital and Shore Points Capital recapitalized Commercial Carpets of America a floor coverings provider based in Washington, D.C. Susquehanna Bank provided a senior term loan and working capital revolver as debt financing for the transaction.
Eureka Growth Capital (“Eureka”) today announced it has partnered with Shore Points Capital and management to recapitalize Commercial Carpets of America (“CCA”), one of the largest value-added, end-to-end floor coverings providers in the Washington, D.C. metropolitan area.
CCA primarily serves local, state and federal government customers throughout the U.S. and on military bases around the world, and commercial customers in the Washington, D.C. area. CCA focuses on complex projects to provide a turnkey flooring solution that includes project management, product selection, installation and flooring reclamation. Since its founding in 1973, CCA has worked with more than 100,000 clients and has installed more than 90 million square feet of flooring products.
“CCA has a long-standing reputation for providing superior service to a variety of federal, state and municipal government agencies as well as commercial customers,” said Chris Hanssens, Managing Partner of Eureka. “CCA has successfully continued its consistent growth in a difficult environment by becoming one of the largest independent dealers of floor covering products to the Federal Government and the preferred provider for facility refurbishments, which continues to drive growth as new construction has slowed.” Chris Miller, a Vice President with Eureka, added, “we are excited to work with Daryl and Mike Reinke and the rest of CCA’s strong management team that has made a significant investment in the business. We are working with our network of property managers and, with the domain expertise brought by Shore Points Capital, believe that CCA’s growth will not just continue but accelerate.”
“With the relationships and experience brought by our new partners, we are well positioned to realize our long term vision for the company,” said Daryl Reinke, CEO of CCA. “This is a great moment for our company,” stated Mike Reinke, President of CCA. “Everyone at CCA is looking forward to capitalizing on the resources made available through our partnership with Eureka and Shore Points.”
Susquehanna Bank provided a senior term loan and working capital revolver as debt financing for the transaction.
About Eureka Growth Capital
Eureka Growth Capital is a private equity firm providing capital and trusted counsel in partnership with proven managers to drive the growth of promising companies into outstanding enterprises. Eureka is committed to supporting exceptional management teams of businesses with $10 million to $75 million in revenue. Eureka acquires businesses in change of control transactions that bring significant ownership to the managers driving the success of the business. Eureka is also comfortable supporting these managers as a non-control investor, providing flexible investment structures designed to uniquely meet the needs of the company, its management team and other shareholders. More information about Eureka Growth Capital can be found at www.eurekagrowth.com.