Canadian private equity firm Lynx Equity has acquired DeBenedetto’s Commercial Flooring, a Portland, Oregon-based provider of commercial flooring solutions. No financial terms were disclosed. Lynx has to date acquired five flooring companies.
July 8, 2020 Toronto, ON / Portland, OR – Lynx Equity Limited is pleased to announce the synergistic acquisition of Portland, Oregon’s DeBenedetto’s Commercial Flooring LLC (“Debenedetto’s”).
DeBenedetto’s is a full-service provider of commercial flooring solutions. The Company prides itself on the quality of its services and strong relationships with clients. Lynx was immediately attracted to this opportunity based on DeBenedetto’s historical success in the commercial flooring industry, and the longstanding relationship between the management teams of DeBenedetto’s and Floor Solutions, one of Lynx’s existing flooring companies operating in Portland. By capitalizing on various synergies, the two companies will enjoy more efficient and profitable operations, while maintaining their competitive advantage. DeBenedetto’s strong reputation, experienced team, and existing customers make the Company a strong addition to the Lynx portfolio.
“I am very proud to announce the successful closing of this transaction. This deal represents yet another step forward for the Lynx Flooring Portfolio and will help retain and capture significant market share in the Portland area. Furthermore, by welcoming DeBenedetto’s into the fold, Lynx is gaining highly tenured and sophisticated human capital that we will benefit from for years to come. I am excited to continue working with Jason and his impressive team,” commented Eric Persi, Vice President of Mergers & Acquisitions, Lynx Equity Limited.
“I’ve spent my entire career in the commercial flooring world and have finally found partners in the Lynx Flooring Portfolio that are committed to innovation and share my passion for an elevated customer experience. The opportunity to leverage their expertise and resources in service of our customers is exciting and I look forward to being a part of the team,” commented Jason DeBenedetto, Owner and President, DeBenedetto’s Commercial Flooring.
Lynx’s flooring portfolio currently includes Portland, OR’s Floor Solutions, acquired by Lynx in 2014, Seattle, WA’s G&W Commercial Interiors, acquired in 2017, Livermore, CA’s Flooring Solutions, acquired in 2018, and Ephrata, WA’s Prime Flooring, acquired in 2019. Lynx continues to pursue a variety of acquisition opportunities in North America and Europe.
About DeBenedetto’s Commercial Flooring LLC
Founded in 2012, DeBenedetto’s offers carpet, tile, resilient, wood, concrete (including surface preparation), and resinous flooring products and installation. Known for its strong management team, knowledgeable staff, and quality of work, DeBenedetto’s has consistently achieved high levels of customer satisfaction.
For further information on DeBenedetto’s Commercial Flooring, please visit www.debenfloors.com
About Lynx Equity Limited
With sales in excess of $500M CAD, Lynx Equity Limited is a diversified Toronto-based private equity firm focused on acquiring small and medium-sized businesses from owners looking to retire or seeking strategic opportunities. 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