Investment firm acquires Empire Today

Home Inside FCNews Investment firm acquires Empire Today

November 21/28, 2016: Volume 31, Number 12

Northlake, Ill.—Empire Today on Nov. 18 announced that an affiliate of H.I.G. Capital, a leading global investment firm, had acquired it in order to support and help drive the company’s growth initiatives. Earlier this year FCNews reported Mercury Capital LP, the investment firm that has owned Empire for 17 years, had been exploring a sale (FCNews, June 6/13).

Empire is the largest in-home sales flooring company and one of the largest specialty flooring providers in America. Empire currently sells to consumers looking for “Flooring Made Easy” in 68 markets, including the 30 largest markets in the U.S. Empire also sells fully installed flooring to businesses, property managers, restoration companies and other organizations. Empire recently expanded its products and services through a growing number of store-within-a-store JCPenney locations.

“H.I.G. has spent a great deal of time with our team and the business, is entirely supportive of our vision to become America’s first and best choice for installed flooring, and has made this investment to help us achieve that goal,” said Keith Weinberger, CEO of Empire Today. “This transaction, and the exciting future we see, is the result of the dedication and efforts of our employees and contractors who make getting beautiful new floors easy for our customers across the country. Empire is committed to continuing to improve our customers’ experiences, and expanding our products and services into new geographic markets.”

Brian Schwartz, executive managing director, H.I.G. Capital, said, “Empire is a market leader with a compelling customer value proposition, a unique business model, an incredible brand and significant growth prospects. We see tremendous opportunities in the business and look forward to supporting Keith and the entire Empire team.”

The acquisition also includes Luna Carpet, which was purchased by Empire for an undisclosed sum in January 2012. Both brands have continued as separate operations.

Miami-based H.I.G. has more than $20 billion in assets under management.

Neither Empire Today nor H.I.G. Capital would comment beyond what was in the press release.

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