Canadian private equity firm Lynx Equity Limited has acquired Ephrata, Washington-based Prime Flooring LLC, a full-service flooring company. No financial terms were disclosed. Tanner Halley, Prime Flooring’s co-founder and president, and Shanel Halley, co-founder and chief financial officer, will both remain with the company.
TORONTO, ON / EPHRATA, WA – Lynx Equity Limited is pleased to announce the acquisition of Ephrata, Washington’s Prime Flooring LLC (“Prime”). Prime is a full-service flooring company providing a wide range of commercial flooring services as well as equipment rental. The Company prides itself on its ability to fulfill all flooring needs from start to finish, primarily using its team of in-house installers. Lynx was immediately attracted to this opportunity given its historical success in the commercial flooring industry. Prime Flooring presents significant opportunities for immediate and long-term synergies with G&W Commercial Interiors, another Washington State-based flooring company owned by Lynx. Furthermore, Prime Flooring’s strong reputation with existing and potential customers, team of in-house installers, and diversified revenue stream make the Company a strong addition to the Lynx portfolio.
“We are extremely excited to have Prime as part of the Lynx family, and to add another great flooring company to our existing flooring portfolio,” commented Eric Persi, Lynx Equity’s Vice President of M&A. “Often regarded as one of the best flooring companies in the State of Washington, Tanner and Shanel have built a strong business over the years, often competing against, but also working with, one of our other flooring companies. We are very eager to get the management teams of both companies together to discuss a collaborative and prosperous future.”
Tanner Halley, Prime Flooring’s co-founder and President, and Shanel Halley, co-founder and CFO, will both remain with the Company post-acquisition.
“Over the past few years, we have looked at ways to provide growth and expansion for our customers as well as our team of employees without having to take on additional financial risks personally,’ commented Tanner and Shanel Halley. “Lynx has provided us with that solution, and we are excited to explore all these opportunities together.”
Lynx’s flooring portfolio currently includes Portland, OR’s Floor Solutions, acquired by Lynx in 2014, G&W Commercial Interiors, acquired in 2017, and Livermore, CA’s Flooring Solutions, acquired in 2018. Lynx continues to pursue a variety of acquisition opportunities in North America and Europe.
About Prime Flooring LLC
Since 2002, Prime Flooring has specialized in commercial flooring installation, demolition, floor preparation, concrete grinding, concrete polishing, shot blasting, moisture mitigation, equipment rentals, and equipment repairs. Known for the quality of its work, dependability, and ability to use its own equipment and experience to complete a wide array of projects, Prime Flooring has grown to become Western Washington State’s premier one-stop-shop for all flooring needs.
For further information on Prime Flooring, LLC. please visit www.primeflooringllc.com
About Lynx Equity Limited
With sales in excess of $500M CAD, Lynx Equity Limited is a Toronto-based diversified private equity firm focused on acquiring small and medium-sized businesses from owners looking to retire. Lynx targets acquisitions of companies with EBITDA between $750k – $2.5M USD and utilizes a buy and hold strategy.
For further information on Lynx Equity, please visit www.lynxequity.com