SEATTLE--(BUSINESS WIRE)--Rainier Partners, a private equity firm investing in lower middle-market services businesses, is pleased to announce its investment in SCI Flooring (“SCI”), a leading full-service floor covering services provider serving property managers and owners across the Midwest with the opportunity to expand market share in a growing, fragmented industry.
SCI is a provider of comprehensive floor covering solutions to multifamily, commercial, and single-family property managers and builders, offering high-quality soft and hard surface flooring products and expert installation. The company has a strong regional market share, a diverse and longstanding network of installation partners, and deep relationships with regional property managers and commercial contractors. SCI has grown organically and by acquisition and currently operates three locations under the company’s umbrella: SCI Floor Covering in Detroit, MI; MC Flooring in Kansas City, MO; and Eastpointe Interiors in Grand Rapids, MI. Strategic M&A will continue to be part of the company’s growth strategy as SCI focuses on geographic and operational expansion under Rainier’s ownership.
“As we assessed a potential partner for the next chapter in SCI’s growth, the team at Rainier stood out due to their cultural fit with our company’s values, expertise in the business services sector, and proven operational playbook that will allow us to continue to expand the platform,” said SCI CEO Dave Elberson. “The SCI team is excited to partner with Rainier to capitalize on the wide array of organic and inorganic opportunities we see in the growing, fragmented flooring industry.”
“SCI’s leading market position in Michigan, Missouri, and Kansas offers a solid foundation from which to pursue geographic, product, and service offering expansion,” said Rainier Co-Founder & Managing Partner Alex Rolfe. “We are impressed with SCI’s success to date and look forward to working with the management team to accelerate their growth while maintaining the company’s focus on operational efficiency and outstanding customer service.”
“We are honored to have been chosen to partner with the SCI leadership team for this next phase of the company’s growth. We look forward to leveraging our financial and operational resources, as well as our expertise in the attractive residential and commercial services vertical, to add value to the company,” added Rainier Co-Founder & Managing Partner Jon Altman.
Rainier Partners is a Seattle-based private equity firm with over $375 million in assets under management that invests in lower middle-market services businesses. We look for opportunities where we can actively support business owners and management teams by providing growth capital, operational resources, and strategic partnership. We focus on industries in which we have extensive experience, a network of partners, and deep resources: business services, consumer services, industrial services, and financial services. We typically invite the founders or management teams of our portfolio companies to invest alongside us to align interests. Please visit www.rainierpartners.com for more information.
SCI Flooring is a full-service provider of soft and hard surface floor covering solutions to multi-family, commercial, and single-family property managers and builders. The company operates as SCI Floor Covering in Detroit, MI; MC Flooring in Kansas City, MO; and Eastpointe Interiors in Grand Rapids, MI. SCI’s leading market position in the Southern Michigan and Kansas City metro areas is supported by a focus on exceptional product quality and efficient, reliable installation. Please visit www.scifloorcovering.com for more information.
