Deal Expands Artivo's Brand Portfolio and National Reach
LIVONIA, Mich. and LOS ANGELES, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Artivo Surfaces, the Transom Capital-backed parent company of Virginia Tile, Galleher, and Trinity Hardwood, is acquiring Tom Duffy Company, a strategic move that significantly strengthens Artivo's position as a market leader in the tile and flooring industry. With its extensive portfolio of installation materials, hardwood, luxury vinyl tile (LVT), and tile solutions, Tom Duffy brings valuable expertise and a diverse product offering to Artivo's growing family of products and capabilities.
"For over 70 years, Tom Duffy has earned its place as a trusted partner in the flooring industry,” said Sunil Palakodati, CEO of Artivo Surfaces. "This acquisition expands Artivo's platform and strengthens our core capabilities. By bringing together Tom Duffy's exceptional team, strong industry relationships, and loyal customer base, we're enhancing our ability to serve residential and commercial markets across the country with a broader range of flooring solutions.”
Anne Funsten, President, and CEO of Tom Duffy Company expressed her enthusiasm about joining Artivo Surfaces: "We are thrilled to become part of Artivo Surfaces. This partnership not only enables us to scale our business but also preserves the legacy we have built in an ever-changing market. Artivo's forward-thinking vision and robust resources create the perfect foundation for our continued growth while allowing us to strengthen the trusted relationships we have nurtured over the decades.”
"This acquisition marks an exciting milestone as Artivo continues to expand its reach and capabilities,” said Steve Kim, Principal at Transom Capital Group. "Tom Duffy has been well known in the West Coast for decades, and their inclusion in the Artivo family strengthens its ability to provide customers with even more comprehensive and innovative solutions. Tom Duffy is Transom Capital's third acquisition in less than twelve months in this vertical, and we are proud to support Sunil and his leadership team in building a premier surfaces platform.”
Kirkland & Ellis LLP served as legal advisor to Transom Capital and PNC Bank, N.A. and Blue Torch Capital provided debt financing for the transaction. Wood Warren served as the exclusive financial advisor and Sheppard, Mullin, Richter & Hampton LLP served as legal advisor to Tom Duffy.
About Artivo Surfaces
Artivo Surfaces is a multi-regional flooring company and parent company to the Virginia Tile, Galleher LLC, Trinity Hardwood Flooring and Tom Duffy brands. The company's network covers 48 locations in over 18 states, and they provide a comprehensive range of flooring solutions from coast to coast. Its extensive portfolio features a diverse selection of ceramic, porcelain, natural stone, hardwood, luxury vinyl, and all necessary installation materials. Combining a century of expertise with innovative design and premium products, serving both residential and commercial markets. Artivo's scale enables it to deliver industry-leading products and solutions while preserving the personalized, high-touch service its customers depend on.
About Transom Capital Group
Transom Capital Group is an operations-focused private equity firm focused on investing in the middle market. The firm strives to create long-term value by partnering with established businesses and helping them navigate transformative growth. Transom's functional pattern recognition, access to capital, and ARMORSM Value Creation Process, combined with management's industry expertise, drive improved operational efficiency, top-line growth, cultural transformation, and distinctive outcomes. Transom is headquartered in Los Angeles, California.
Media Contact
Sam Butler for Transom Capital
sam@35thAvenuePartners.com
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