H.I.G. Capital Completes Acquisition of Empire Today
MIAMI – November 17, 2016 – H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with more than $20 billion of equity capital under management, is pleased to announce that one of its affiliates has acquired Empire Today, LLC (“Empire Today” or the “Company”), a leading provider of installed home improvements.
Headquartered in Northlake, IL, Empire Today is the largest in-home sales flooring company and one of the largest specialty flooring providers in America. Empire Today currently sells to consumers looking for “Flooring Made Easy” in 68 markets, including the 30 largest markets in the United States. The Company also sells fully installed flooring to businesses, property managers, restoration companies, and other organizations. Empire Today has recently expanded into offering its products and services through a growing number of “store-within-a-store” JCPenney locations.
“We are very excited to partner with Empire Today,” said Brian Schwartz, Executive Managing Director at H.I.G. “The Company is a market leader with a compelling customer value proposition, a unique business model, an incredible brand, and significant growth prospects. We see tremendous opportunities in the business and look forward to supporting Keith Weinberger and the entire Empire team.”
Keith Weinberger, CEO of Empire Today, commented, “H.I.G. has spent a great deal of time with our team and the business, is entirely supportive of our vision to become America’s first and best choice for installed flooring, and has made this investment to help us achieve that goal. This transaction, and the exciting future we see, is the result of the dedication and efforts of our employees and contractors, who make getting beautiful new floors easy for our customers across the country. Empire Today is committed to continuing to improve our customers’ experiences and expanding our products and services into new geographic markets.”
About Empire Today
Empire Today, LLC, also commonly known as Empire Carpet, has been a leading provider of installed home improvements and home furnishings for over 50 years. Empire serves residential and business customers with a wide selection of products suitable for homes, small businesses, organizations and commercial applications. Our line of quality, name-brand products includes: carpet, hardwood, laminate, ceramic, vinyl flooring and window treatments. The company provides shop-at-home convenience or on-site consultation, next day professional installation on many products, quality products at great prices, and world-class service to about 70 of the largest metropolitan areas in the United States. With over one million satisfied customers, Empire Today is dedicated to customer satisfaction. For more information, call 800-588-2300 or visit empiretoday.com.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with more than $20 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.