Tarkett to acquire Lexmark

HomeNewsTarkett to acquire Lexmark

Paris—Tarkett has signed an agreement to acquire 100% of Lexmark Carpet Mills.

Lexmark produces high-quality carpet, primarily for the North American hospitality segment. The company is a well-recognized brand among leading hospitality chains. In recent years, the Lexmark has extended its product range to address the residential market.

“The acquisition of Lexmark will position Tarkett as one of the leaders in the hospitality segment for carpets in North America,” said Glen Morrison, CEO of Tarkett. “We will be able to further strengthen Lexmark’s offering in this segment as they will have access to Tarkett’s broader product portfolio. We will also leverage Tarkett’s global presence to enhance Lexmark’s positioning with key accounts worldwide.”

Headquartered in Dalton, Lexmark achieved around $120 million in sales in 2017, employs 460 people and operates one plant in the U.S. Lexmark has demonstrated a strong and profitable growth model, particularly through the successful acquisition of Northwest Carpets in 2015, a manufacturer of broadloom carpet for hospitality and niche commercial applications.

“We are very excited to join Tarkett with whom we share the same vision and entrepreneurial values, as well as a strong commitment to servicing customers with solutions designed to meet a wide range of needs,” said Paul Cleary, CEO of Lexmark. “Within the Tarkett group, we will be able to offer a larger choice of products to our customers and partners and provide an even stronger offering.”

While the acquisition will be immediately accretive to Group EBITDA margin, Tarkett has also identified sales and supply chain synergies with its North America carpet activities.

The transaction will be financed with an existing credit facility. After the acquisition, Tarkett expects its net consolidated debt leverage ratio to be around 2.5x EBITDA (proforma) at the end of the year.

The transaction is expected to be concluded before the end of this year, subject to regulatory approval and other customary closing conditions.

 

Must Read

Louisville Tile promotes Ventimiglia to regional sales director south

Louisville Tile is again enhancing its sales team with the promotion of Guy Ventimiglia to the position of regional sales director south. Ventimiglia brings over...

Duchateau showcases lighter colors for spring, summer  

San Diego—Duchateau, a lifestyle brand specializing in the fine manufacture and design of luxury architectural finishes, is putting the spotlight on its array of...

ITR Economics acquired by renowned consulting firm

ITR Economics, the acclaimed forecasting firm that for years has provided flooring industry executives with their expertise, market research findings and incredibly accurate economic...

Louisville Tile promotes Tammy Henry

Louisville, Ky.—Louisville Tile, a distributor of ceramic tile and related products, has promoted Tammy Henry to national director of architectural and design (A&D) sales. Henry...

Tile of Spain unveils schedule of events for Coverings 2024

Atlanta—Tile of Spain has released its schedule of events for Coverings 2024, North America’s largest international tile and stone exhibition and conference. The show will...

GIMIG signs i4F CeraGrout license agreement

Turnhout, Belgium—Zhejiang Gimig Technology Co. Ltd. (GIMIG) signed a license agreement for i4F’s CeraGrout technology. GIMIG is introducing the technology onto its SPC manufacturing...
Some text some message..
X