SEATTLE--(BUSINESS WIRE)--Rainier Partners and its portfolio company, SCI Flooring (“SCI”), are pleased to announce the platform’s second add-on acquisition, Carpetbaggers, Inc.
Founded in 1984, Carpetbaggers offers flooring installation services in the greater Indianapolis metro area, with a core focus on multi-family tenant turnover and new construction. The acquisition will allow SCI to build depth and reinforce regional leadership in the Midwest following the platform’s October 2023 acquisition of United Carpet in St. Louis and Chicago.
SCI is a leading full-service floor covering services provider to multi-family, commercial, and single-family property managers and builders. The platform serves markets across Michigan, Illinois, Missouri, Kansas, and, with the addition of Carpetbaggers, Indiana. The acquisition also increases the platform’s exposure to the attractive multi-family segment while providing opportunities for cross-selling.
“Partnering with Carpetbaggers helps bolster SCI’s scale and regional density, operating in a market highly complementary to SCI’s existing footprint,” said SCI CEO Dave Elberson. “We are excited to work alongside Carpetbaggers’ Vice President Terry Brenner and his team to invest in the business and further develop Carpetbaggers’ market leadership in greater Indianapolis.”
“We are thrilled to join forces with SCI and look forward to accelerating the growth of our business as part of the broader platform,” Terry added. “The SCI team shares our focus on providing high-quality, reliable service, and we are confident we can deliver even more for our customers moving forward as partners.”
“This partnership is an exciting continuation of the platform’s momentum since Rainier’s initial investment and the acquisition of United Carpet last year,” said Rainier Vice President Luke Bench. “We are excited to continue supporting Dave and his team in providing outstanding service and value to their customers throughout the Midwest.”
Rainier and SCI are actively seeking opportunities to partner with additional flooring businesses. Business owners interested in learning more should contact Luke Bench at lbench@rainierpartners.com.
Carpetbaggers, Inc. is a flooring distributor and installer with a focus on multi-family tenant turnover and new construction. The company was founded in 1984 and operates in the greater Indianapolis metro area.
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; Eastpointe Interiors in Grand Rapids, MI; United Carpet in St. Louis, MO and Chicago, IL; and Carpetbaggers in Indianapolis, IN. SCI’s leading market position is supported by a focus on exceptional product quality and efficient, reliable installation.
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.
