Saw Mill Capital Partners has acquired New Tile, a New York-based provider of tile, stone, and setting materials utilized in commercial and residential construction applications to the architecture and design, contractor, and retail channels. No financial terms were disclosed.
BRIARCLIFF MANOR, N.Y., March 17, 2021 /PRNewswire/ — Saw Mill Capital Partners II, LP and affiliated private equity investment funds managed by Saw Mill Capital LLC (“Saw Mill”) are pleased to announce the acquisition of Nemo Tile Co., LLC (“Nemo Tile”), a leading, New York-based designer and distributor of tile, stone, and setting materials utilized in commercial and residential construction applications to the architecture and design, contractor, and retail channels. The terms of the transaction have not been disclosed. This is the eighth investment in Saw Mill’s most recent private equity fund.
Matt Karlin, President and CEO of Nemo Tile, commented, “The unique perspective Saw Mill was able to generate through their industry research and past investment experience in building products and the architecture and design channel allowed them to quickly understand both our market and growth strategy. Having interacted significantly with their team during our partnership discussions, I am confident that this relationship will allow our business to reach its full potential as we pursue new growth opportunities.”
Scott Rivard, a Partner at Saw Mill Capital, said, “Nemo Tile’s strong, 100-year-old brand, combined with its advantageous supply chain and rare design capabilities, delivers a compelling value proposition to its customers. The Company’s differentiated focus on the architecture and design channel has resulted in a defensible position in an attractive segment of tile and stone. We are excited to partner with Matt and his team to grow the business and support the company as it continues to execute against its strategic initiatives, which will include both organic and acquisitive growth opportunities.”
Saw Mill is committed to helping its portfolio companies achieve their full growth potential, both organically and through strategic acquisitions. We continue to seek attractive building products distribution companies to add to the Saw Mill portfolio.
About Nemo Tile
Founded in 1921 and headquartered in New York, NY, Nemo Tile Company is a leading distributor of tile, stone, and setting materials utilized in commercial and residential construction applications. The Company designs and markets tile and stone products, primarily under its own brand, to the architecture and design, contractor, and retail channels. For more information, please visit www.nemotile.com.
About Saw Mill Capital
Based in Briarcliff Manor, NY, Saw Mill Capital is a private equity firm that acquires business service, specialty distribution, and manufacturing businesses with enterprise values of $25 million to $200 million. Since 1997, Saw Mill Capital has been partnering with management teams to help successful businesses reach their full potential. For more information, visit www.sawmillcapital.com.