HIG Capital (HIG) has sold its portfolio company, Empire Today to Charlesbank Capital Partners (Charlesbank).
Empire Today is the largest shop-at-home, direct-to-consumer flooring company in the United States, operating in over 70 of the largest metropolitan areas in the country. The Company serves residential customers with a wide selection of carpet and hard surface flooring products for homes, and sells fully installed flooring solutions to businesses, including multi-family properties, restoration companies, REITs, and other organisations.
HIG acquired the Company in November 2016 in partnership with Empire Today’s management team. Through numerous strategic initiatives and investments, the Company enjoyed significant growth during HIG’s ownership period, generating an outstanding return to its investors.
Keith Weinberger, Empire Today’s CEO, says: “We appreciate HIG’s commitment to Empire Today over the last five years, adding significant value to our business and our leadership team while supporting investments across our business, all of which have strengthened our ability to deliver a quality experience to our customers and our team. We are excited about partnering with Charlesbank to support Empire Today’s next phase of growth. We are also thrilled to see HIG remain as a minority investor, which speaks to our many exciting opportunities into the future.”
Read more/Source: Private Equity Wire
