Lynx Equity acquires U.S. flooring products specialist

Lynx Equity has acquired Flooring Solutions Inc, a commercial flooring contractor based in Livermore, California. No financial terms were disclosed. Flooring Solutions provides a range of flooring products, including carpeting, wood flooring, non-slip flooring and specialty surfaces to regional customers. President Rick Elfman, who co-founded Flooring Solutions in 1990, will remain for at least two years. Lynx, a Canadian private equity firm, said the deal introduces a third flooring business to its portfolio. In 2016, PE Hub Canada profiled Brad Nathan, the Toronto investor’s founder and president.

PRESS RELEASE

Lynx Equity Limited is pleased to announce the acquisition of Livermore, California’s Flooring Solutions Inc., the largest commercial, non-union flooring contractor in the San Francisco Bay Area.

May 3 2018

Toronto, ON / Livermore, CA – Lynx Equity Limited is pleased to announce the acquisition of Livermore, California’s Flooring Solutions Inc., the largest commercial, non-union flooring contractor in the San Francisco Bay Area. For over twenty-five years, Flooring Solutions has been providing flooring such as carpeting, wood flooring, non-slip flooring and specialty surfaces for a diverse group of customers. Working exclusively on commercial projects for customers ranging from multinational corporations to government entities, The Company has established its reputation as a trusted commercial contractor and has built strong relationships with suppliers, which adds to its competitive advantage. Flooring Solutions is also the exclusive regional distributor of Eco-Grip, a unique heat and chemical resistant flooring material, designed to contribute to the safety of the work environment in restaurants and commercial kitchens. Competitive pricing combined with best in class products and servicehas allowed Flooring Solutions to win highly sought-after contracts with top clients such as The French Laundry, Starbucks, AT&T and Twitter.

“Given the phenomenal success we have experienced with our existing flooring businesses, Flooring Solutions is a natural addition to the group,” commented Lynx Equity’s President, Brad Nathan. “We are thrilled to welcome Rick and the entire Flooring Solutions team to the Lynx family andlook forward to continuing the business’ success together.”

Rick Elfman, Flooring Solutions’ co-founder and President, will remain with Flooring Solutions for at least two years, ensuring a smooth transition to new management.

“All of us at Flooring Solutions are thrilled to be part of the Lynx family. We did a lot of vetting by speaking with the other twoflooring contractors that Lynx is involved with and nothing but the highest marks came up,” commented Rick Elfman. “Our main concernswere the transition for my wife Holly and metowards retirement and the future security of our people,and Lynx was able to satisfy both concerns. Everyone we have dealt with at Lynx has been professional and our companies have a great future together.”

Lynx’s portfolio currently includes Portland, OR’s Floor Solutions, acquired by Lynx in 2014, as well as G&W Commercial Interiors, acquired in 2017. Lynx continues to pursue acquisition opportunities in North America and Europe.

About Flooring Solutions, Inc.

Since 1990, Flooring Solutions, Inc. has been offering a broad range of on-trend specialty flooring products from the world’s preeminent manufacturers, in some cases on an exclusive regional basis, to a variety of notable commercial customers.

For further information on Flooring Solutions, Inc. please visit www.flooring-solutions.com

About Lynx Equity Limited

With sales in excess of $400M 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 – $2M USD and utilizes a buy and hold strategy.

For further information on Lynx Equity, please visit www.lynxequity.com

For press inquiries, please contact:

Ashley Manis, Director of Marketing & International Expansion

E: pr@lynxequity.com/T: 416-454-3782

Photo courtesy of Flooring Solutions Inc