Private equity company HIG Capital announced that it had made a strategic investment in broadloom carpet maker Lexmark Carpet Mills Inc. No financial details were disclosed about the deal. HIG Capital said it would work with Lexmark to look for opportunities in new markets. The Miami-based private equity firm currently has over USD 13 billion of capital under management. It holds a portfolio of more than 80 companies with combined sales of over USD 30 billion.
A specialty carpet mill established in 1993, Lexmark supplies nylon and polyester carpets to residential, hospital and niche commercial end markets. Service, style, quality and competitive prices have made Lexmark a market leader in the business.
Lexmark Founder and CEO Todd White said they are excited about the partnership. "Our partnership with H.I.G. will provide us with financial and operating resources that will enable us to further capitalize on our significant growth potential at an exciting time for our industry," he said.
Join the Conversation