Cabinetworks Parent Acquires Major Flooring Distributor
LOS ANGELES, CA — Platinum Equity LLC, the global investment firm that recently acquired the nation’s largest independently owned manufacturer and distributor of kitchen and bath cabinets, Cabinetworks, has acquired Paramount Global Surfaces (PGS), a major flooring products distributor, from Linsalata Capital Partners, the companies announced.
Terms of the July transaction were not disclosed.
The Miami, FL-based PGS is a leading developer, importer and distributor of premium, proprietary porcelain tile and other hard surface floor coverings used primarily in both residential and commercial remodeling projects. The company goes to market through a pair of floorcovering brands: Happy Floors, which serves a diverse base of more than 6,000 independent dealer customers throughout the U.S., and Ceramic Technics, which serves some 1,800 architecture and design firms, and 4,000 contractors/installers and corporate customers across multiple commercial and multi-family end-user segments, according to Platinum Equity.
Aside from its recent purchase of Cabinetworks – which includes such brands as Merillat, KraftMaid, Medallion, Cardell,and Quality Cabinets, among others – Platinum Equity recently acquired Interior Logic Group, the largest national provider of interior design and finish solutions for the homebuilding industry; PrimeSource, a national distributor of specialty building materials including fasteners serving the new construction and remodeling markets; and Nilco, a wholesale distributor of specialty building materials and industrial products.
“PGS serves a critical link in the value chain connecting high-quality tile manufacturers with thousands of end customers in the U.S. residential and commercial markets,” said Platinum Equity Partner Jacob Kotzubei. “COVID and demographic trends are also driving a shift in consumer lifestyle that is stimulating increased new home construction and renovation activity, and we
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