Mannington Mills has bought Amtico International, which is a portfolio company of AAC Capital Partners. Financial terms were not announced. Amtico, of Coventry, England, makes luxury vinyl flooring products.
In a move that broadens its U.S. manufacturing base and global reach, flooring manufacturer Mannington Mills announced today that it has acquired Amtico International, a manufacturer of high-quality luxury vinyl flooring products.
Mannington Mills, based in Salem, NJ, is one of the largest and oldest flooring manufacturers in the United States. Founded in 1915, the fourth-generation, family-owned company manufactures and markets residential and commercial resilient, laminate, hardwood and porcelain tile floors, as well as commercial carpet and rubber.
“The acquisition of Amtico is an extremely exciting development for Mannington, as it not only brings a world class organization into the Mannington family, but also expands the company’s global market reach as well as the scope of its domestic manufacturing capabilities,” said Russell Grizzle, President and CEO of Mannington Mills, Inc. “Amtico has long been recognized as the design, innovation, and performance leader in the luxury vinyl flooring category. Its commitment to quality, customer service, sustainability and delivering exceptional value to the market fits seamlessly with Mannington’s core values,” added Grizzle.
“We look forward to being part of the Mannington organization,” included Jonathan Duck, CEO, Amtico International, “and bringing together a wider product range, local manufacturing and excellent design for the benefit of all our customers. This really is a great fit between two companies.”
Grizzle also said that Amtico, based in Coventry, England, also with facilities based in Atlanta, GA, will maintain its brand identity and become a Mannington subsidiary, and that operations at all Amtico locations will continue. No other terms of the acquisition were disclosed. Robert W Baird & Co. served as the exclusive financial advisor to Mannington Mills on this transaction.
About Mannington Mills:
One of the largest flooring companies in the U.S., Mannington Mills, Inc., based in Salem, NJ, is the only North American company engaged in the manufacturing and marketing of residential and commercial resilient, laminate, hardwood and porcelain tile floors, as well as commercial carpet and rubber. Founded in 1915 by John Campbell, the company is still privately held and employs over 1,700 people. After almost 100 years, the company continues to pursue its commitment to quality, customer satisfaction and the environment through innovative product design and marketing, state-of-the-art technology and industry-leading programs.
About Amtico International:
Amtico International, based in Coventry, England and Atlanta, Georgia, is the world’s leading Luxury Vinyl Tile (LVT) company. It manufactures LVT in its US and UK plants and sells around the world under the “Amtico” and “Spacia” brands. The company, which today employs over 600 people, was founded in 1965 and became an independent business in 1995, owned by its management and outside investors. Amtico has consistently led the development of the fast growing LVT flooring category, based on design, quality, and customer service.