AUSTIN, Texas--(BUSINESS WIRE)--Impact Property Solutions (“Impact”), a Dallas, TX-based portfolio company of Blue Sage Capital (“Blue Sage”), is proud to announce its acquisition of Multi Floors (“Multi”), a Raleigh, NC-based provider of flooring products and installation services to multifamily properties as well as retail refinishing and restoration services. Led by Brent Rice for over 20 years, Multi covers the broader Raleigh-Durham area and other tertiary cities in eastern North Carolina.
This announcement comes on the heels of Impact’s April 2022 acquisition of Cutting Edge Carpet, which operates in Orlando and Jacksonville, Florida, and bolsters Impact’s North Carolina presence after the September 2021 acquisition of Got You Floored in the Piedmont-Triad region. Impact’s presence in the Sun Belt as a leading multifamily flooring solutions provider will continue to grow, both organically and inorganically.
“Brent, his son CB, and the Multi team represent another exciting partnership to bring into the Impact family,” said Kerry Jones, CEO of Impact Property Solutions. “Brent and team have deep roots in the Raleigh-Durham market, and Impact will bring additional resources and relationships to bear in North Carolina to maximize Multi’s strong platform in order to grow alongside this flourishing market.”
“Multi Floors couldn’t be happier to join forces with Kerry and the Impact team,” said Brent Rice, founder of Multi. “In nearly a year of getting to know Impact, we have complete confidence that Impact can usher in a new chapter of growth and opportunity. CB and I look forward to continuing to work with our team here to help realize that success.”
Blue Sage Capital initially invested in Impact at the end of 2020. Since then, Blue Sage has supported the strengthening of the Texas platform and three acquisitions across the Sun Belt. Jonathan Pearce, Partner at Blue Sage, noted, “The Multi Floors team will be an excellent addition to the Impact platform and allows Impact to address one of the most promising multifamily markets in the country. Impact’s execution on its organic and inorganic growth strategies is generating results, and Blue Sage looks forward to helping the team continue its outperformance.”
Impact is continuing to seek add-on acquisition targets who offer similar or complementary services in new markets.
About Blue Sage Capital
Blue Sage Capital is an Austin, Texas-based private equity firm that has been investing in profitable, growing, lower middle-market companies since 2002. Blue Sage currently has over $400 million of assets under management and seeks to partner with founders, families, and management teams as the first round of institutional capital for businesses that enjoy leadership positions in niche manufacturing, environmental solutions, or specialty services industries. Blue Sage typically invests $20 million to $40 million in control buyout investments and recapitalizations of companies with $20 million to $200 million of revenue.