Rainier-Backed SCI Flooring Builds Momentum in the Midwest with Add-On Acquisition
25 June 2024 - 8:00PM
Business Wire
Carpetbaggers joins SCI Flooring, further
strengthening the company’s regional market position
Rainier Partners and its portfolio company, SCI Flooring
(“SCI”), are pleased to announce the platform’s second add-on
acquisition, Carpetbaggers, Inc.
Founded in 1984, Carpetbaggers offers flooring installation
services in the greater Indianapolis metro area, with a core focus
on multi-family tenant turnover and new construction. The
acquisition will allow SCI to build depth and reinforce regional
leadership in the Midwest following the platform’s October 2023
acquisition of United Carpet in St. Louis and Chicago.
SCI is a leading full-service floor covering services provider
to multi-family, commercial, and single-family property managers
and builders. The platform serves markets across Michigan,
Illinois, Missouri, Kansas, and, with the addition of
Carpetbaggers, Indiana. The acquisition also increases the
platform’s exposure to the attractive multi-family segment while
providing opportunities for cross-selling.
“Partnering with Carpetbaggers helps bolster SCI’s scale and
regional density, operating in a market highly complementary to
SCI’s existing footprint,” said SCI CEO Dave Elberson. “We are
excited to work alongside Carpetbaggers’ Vice President Terry
Brenner and his team to invest in the business and further develop
Carpetbaggers’ market leadership in greater Indianapolis.”
“We are thrilled to join forces with SCI and look forward to
accelerating the growth of our business as part of the broader
platform,” Terry added. “The SCI team shares our focus on providing
high-quality, reliable service, and we are confident we can deliver
even more for our customers moving forward as partners.”
“This partnership is an exciting continuation of the platform’s
momentum since Rainier’s initial investment and the acquisition of
United Carpet last year,” said Rainier Vice President Luke Bench.
“We are excited to continue supporting Dave and his team in
providing outstanding service and value to their customers
throughout the Midwest.”
Rainier and SCI are actively seeking opportunities to partner
with additional flooring businesses. Business owners interested in
learning more should contact Luke Bench at
lbench@rainierpartners.com.
Carpetbaggers, Inc. is a flooring distributor and
installer with a focus on multi-family tenant turnover and new
construction. The company was founded in 1984 and operates in the
greater Indianapolis metro area.
SCI Flooring is a full-service provider of soft and hard
surface floor covering solutions to multi-family, commercial, and
single-family property managers and builders. The company operates
as SCI Floor Covering in Detroit, MI; MC Flooring in Kansas City,
MO; Eastpointe Interiors in Grand Rapids, MI; United Carpet in St.
Louis, MO and Chicago, IL; and Carpetbaggers in Indianapolis, IN.
SCI’s leading market position is supported by a focus on
exceptional product quality and efficient, reliable
installation.
Rainier Partners is a Seattle-based private equity firm
with over $375 million in assets under management that invests in
lower middle-market services businesses. We look for opportunities
where we can actively support business owners and management teams
by providing growth capital, operational resources, and strategic
partnership. We focus on industries in which we have extensive
experience, a network of partners, and deep resources: business
services, consumer services, industrial services, and financial
services. We typically invite the founders or management teams of
our portfolio companies to invest alongside us to align interests.
Please visit www.rainierpartners.com for more information.
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version on businesswire.com: https://www.businesswire.com/news/home/20240625491878/en/
Rainier Partners (Business Inquiries)
info@rainierpartners.com
MiddleM Creative (Media Inquiries) Allie Gamble
allie@middlemcreative.com