The Company is a leading designer and factory-direct distributor of luxury vinyl tile and plank flooring products and modular carpet tile developed for the multi-housing market. The exclusive supplier of its own trademarked product line, the Company’s flooring products are manufactured to spec in China by established contract manufacturers. Customers are primarily multi- housing property developers and retail dealers serving commercial projects. Growing demand for the Company’s proprietary flooring is being fueled by customers’ desire for a product that is aesthetically pleasing, extremely durable and easy to maintain. The Company offers a much broader line than competitors, with 60 different wood grains and colors, as well as product performance choices unique to the multi-housing market.
Sales growth has been strong, generating a CAGR of 38.1% from 2010 to 2015. Management estimates sales of $16.2 million in 2016, up 65% over 2015, and an adjusted EBITDA of $2.9 million. The Company’s 5-year growth plan is to reach $55 million in sales and $10.9 million in EBITDA. Management believes that the multifamily market of 17+ billion square feet of flooring is transitioning a significant share of carpet to LVT over the next decade and the Company is well positioned to participate in the conversion.
The Company is in the process of rolling out its new lines of sound deadening LVT and Modular Carpet Tile, which are expected to reach $4.3 million in sales in 2016. There is also significantly potential growth in expanding the business to affluent, densely populated markets across the U.S. In addition, there is tremendous opportunity to expand to colleges and dorms, hospitals and nursing homes, and into the hospitality market. There are exponential growth possibilities as more hotels move to eliminate carpeting. Since LVT is antimicrobial, it is being installed in more hospitals and doctors’ offices.
Asking Price Available On Request
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