Atlanta-based Floor and Decor Outlets of America, Inc. has been acquired by two private equity companies that plan to open new stores.
The 10-year-old company sells ceramic, stone, wood and laminate flooring to contractors and individual buyers. It has 25 stores in 15 cities.
The company, which was owned by the investor group of Najeti Ventures LLC, Saugatuck Capital Company, and TWJ Capital LLC, was bought by affiliates of Ares Management LLC and Freeman Spogli & Co. Terms of the deal were not disclosed.
The new owners plan to accelerate both the number of stores and the cities in which they are located, a spokesman said.
David Kaplan, a senior partner at Ares Management, said in a statement that Floor and Decor has five times the selection of a typical home improvement retailer.
"We are excited ... to support the company’s expansion across the country so that all customers can take advantage of its unparalleled offering," he said.
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