SCI Flooring, a provider of comprehensive floor covering based in Romulus, is partnering with Rainier Partners, a private equity firm investing in lower middle-market services businesses based in Seattle. Terms of the deal were not disclosed.
“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,” says Dave Elberson, CEO of SCI.
“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 has a regional market share, a longstanding network of installation partners, and relationships with regional property managers and commercial contractors.
The company currently operates three locations under the company’s umbrella: SCI Floor Covering in Romulus; Eastpointe Interiors in Grand Rapids; and MC Flooring in Kansas City, Mo.
Strategic mergers and acquisitions will continue to be part of SCI’s growth strategy as the company focuses on geographic and operational expansion with Rainier’s help.
“SCI’s leading market position in Michigan, Missouri, and Kansas offers a solid foundation from which to pursue geographic, product, and service offering expansion,” says Alex Rolfe, co-founder and managing partner of Ranier.
“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.”
For more information on SCI Flooring, visit here.
Visit here for more information on Rainier Partners.
