Artisan Design Group, a Portfolio Company of The Sterling Group, Completes the Acquisition of Heritage Carpet & Tile

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Jun 05, 2019, 13:03 ET

SOUTHLAKE, Texas, June 5, 2019 /PRNewswire/ -- Artisan Design Group ("ADG"), a portfolio company of The Sterling Group, today announced the acquisition of Heritage Carpet & Tile, LLC ("Heritage" or the "Company"). ADG is a dealer of flooring products and services, providing design, procurement, installation and quality control of flooring and complimentary products for homebuilders and multi-family developers.

Heritage is a leading provider of design center and installation services for flooring and complimentary products such as shower enclosures, mirrors and window treatments in Southern Florida. For over 30 years, Heritage has been offering exceptional customer service and reliable installation to its homebuilder customers. The Company is headquartered in Boynton Beach, Florida and has further locations in Fort Pierce, Naples and Sarasota. "We are very pleased to be teaming up with ADG. Their broad reach and experience across a variety of product categories will support us in continuing our strong growth. Furthermore, as a family business, we were also looking for a partner with the right cultural fit that will allow us to continue our focus on local customer service and execution," said Randy Smith CEO and President of Heritage.

"We are excited to welcome Heritage Carpet & Tile to Artisan Design Group. We continuously strive to enhance our capabilities to better serve our customers, and through Heritage we will expand our geographic footprint to the important Florida market. The Heritage team has built an impressive company and we are proud to be partnering with them," said Larry Barr and Wayne Joseph, Co-CEOs of ADG.

Headquartered in Southlake, Texas, ADG operates more than 65 distribution, design and service facilities and coordinates installation through over 1,250 independent contractors across 17 states. ADG was formed in 2016 through the combination of Floors Inc. and Malibu. The acquisition of the Heritage represents ADG's fourth acquisition over the past six months under Sterling's ownership. The company has completed twelve total acquisitions in the past two years. ADG continues to seek local and regional market leaders to add to its family of flooring specialists.

About The Sterling Group

Founded in 1982, The Sterling Group is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies range from $100 million to $750 million. Sterling has sponsored the buyout of 56 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $1.9 billion of assets under management. For further information, please visit www.sterling-group.com.

Past performance is no guarantee of future results and all investments are subject to loss.

SOURCE The Sterling Group