NewSpring Invests in National Commercial Flooring Dealer
RADNOR, Pa., August 30, 2018-– NewSpring (the “Firm”), a family of private equity funds, announced today that NewSpring Mezzanine ("NewSpring"), the Firm’s dedicated mezzanine strategy, has made an investment in Fabulous Floors, Inc. (“Fabulous Floors” or the “Company”) alongside Tightrope Capital and Pouilly Investment Company.
Fabulous Floors is a dealer and installer of commercial and residential flooring. Founded in 1987, the Company focuses primarily on the commercial segment and provides a broad spectrum of flooring products used in renovation, replacement and expansion work, and new construction projects. Fabulous Floors is headquartered in the Dallas-Fort Worth metro area, with satellite locations in other areas of Texas, and an additional office in Bend, Oregon.
“We are excited to partner with NewSpring and all of our new investors to build upon our successes and position our business for the next stage of growth,” said Joel Alhadef, Fabulous Floors Founder and President. “The support and expertise provided by our investment partners will strengthen our position within our existing geographic footprint and allow us to expand into new markets and geographies while maintaining the high level of service and quality our customers have come to expect.”
“Fabulous Floors’ prominent position within its current market is a testament to strong leadership, a dedicated sales team, and a culture of quality and service,” said Kristin Lee, NewSpring Principal. “We look forward to collaborating with Joel, his partner Rick Cain, and the entire management team as they continue to successfully capitalize on their strategic growth initiatives.”
About Fabulous Floors
Fabulous Floors, founded in 1987 and headquartered in Carrollton, Texas, has a loyal following of general contractors, builders, designers and re-modelers. The Company’s track record of quality and service has been achieved through broad spectrum of projects, including educational institutions, healthcare, tenant finish-outs and high-rise residential developments. Fabulous Floors offers products from industry leading manufactures including Shaw, Daltile, Mannington, Mohawk and others. Although primarily focused in the Dallas-Fort Worth region, the Company has completed projects throughout Texas, Oklahoma, Arkansas, Louisiana, Florida, Massachusetts, Georgia, Virginia, California and Oregon. For more information, visit www.fabfloors.com.
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