Select Interior Concepts acquires T.A.C.
Select Interior Concepts, a diversified building products and services company focused on home interior products, acquired T.A.C. Ceramic Tile Co., an installer of residential and light commercial flooring
With annualized sales of about $70 million, T.A.C. specializes in design center selections and installation of all types of interior flooring surfaces, including tile, hardwood and carpet. The company was founded in 1985.
“This acquisition significantly expands the scale of our RDS segment while advancing our objective to diversify across geography, channel and product line,” said Tyrone Johnson, CEO of Select Interior Concepts. “We have gained exposure to highly attractive markets in the Mid-Atlantic region, where T.A.C. has an established presence for designing and installing high-quality flooring systems.
The company looks to add countertops and cabinets to the range of products, Johnson said.
T.A.C. primarily serves national, regional and local builders, along with retail clients in Virginia, Maryland and West Virginia through two design centers located in the Metro D.C. area. The acquisition increases the footprint of the Company’s Residential Design Services (“RDS”) segment to 31 locations, including 21 design centers across the United States.
Payment at closing to owners of T.A.C including transaction costs was approximately $43 million cash. Owners of T.A.C also have the ability to earn future additional payments, subject to achieving certain performance metrics in 2019, according to the announcement.
Tom Callaway, owner of T.A.C., said, “For more than 30 years, we have built a strong reputation based on commitment to customers, high-quality services and deep product knowledge. Select Interior Concepts shares our passion for excellence and provides an excellent match for the next chapter of growth for T.A.C.”
With annualized sales of about $70 million, T.A.C. specializes in design center selections and installation of all types of interior flooring surfaces, including tile, hardwood and carpet. The company was founded in 1985.
“This acquisition significantly expands the scale of our RDS segment while advancing our objective to diversify across geography, channel and product line,” said Tyrone Johnson, CEO of Select Interior Concepts. “We have gained exposure to highly attractive markets in the Mid-Atlantic region, where T.A.C. has an established presence for designing and installing high-quality flooring systems.
The company looks to add countertops and cabinets to the range of products, Johnson said.
T.A.C. primarily serves national, regional and local builders, along with retail clients in Virginia, Maryland and West Virginia through two design centers located in the Metro D.C. area. The acquisition increases the footprint of the Company’s Residential Design Services (“RDS”) segment to 31 locations, including 21 design centers across the United States.
Payment at closing to owners of T.A.C including transaction costs was approximately $43 million cash. Owners of T.A.C also have the ability to earn future additional payments, subject to achieving certain performance metrics in 2019, according to the announcement.
Tom Callaway, owner of T.A.C., said, “For more than 30 years, we have built a strong reputation based on commitment to customers, high-quality services and deep product knowledge. Select Interior Concepts shares our passion for excellence and provides an excellent match for the next chapter of growth for T.A.C.”