Investment group buys its third flooring company
Lincoln, Neb.-based 31st Street Capital acquired its third flooring company: Total Flooring, Inc., located in Homer Glen, Ill., and serving the Chicago area since 1992. The single-location business features a 5,000 square foot showroom with a variety of flooring solutions for residential and commercial projects.
31st Street Capital purchased its first flooring company Floor Source in 2018. Floor Source, established in 2010, serves the Phoenix and Scottsdale residential and commercial market with two showrooms and expects to open third location in late 2021.
The second acquisition, Flooring Expo by Carpet King, based in Minneapolis, Minn., has 13 showrooms and has been serving the Twin Cities for over 75 years.
31st Street Capital said it intends to continue their growth both within their existing portfolio of flooring companies as well as through further flooring acquisitions in major US markets.
"31st Street Capital takes a long-term view on growth, and we believe that to achieve greatness in any business you have to focus on and invest in the people in those businesses. We will continue to seek opportunities where strong local businesses that can benefit from our investment of capital, coaching, and marketing expertise. It's also critically important that they are culturally aligned with our mission and approach," says Nick Bock, owner and CEO of 31st Street Capital. "Our team has a real passion for people and the businesses they run. We are wholly invested in supporting those businesses to enhance their growth and help them move towards the ultimate goal of being the dominant flooring company in their market."