LINCOLN, Neb., Aug. 27, 2021 /PRNewswire/ -- 31st Street Capital has acquired its third flooring company, Total Flooring, Inc., located in Homer Glen, Ill. Total Flooring, Inc. has provided the finest quality flooring in the Chicago area since 1992. The 5,000 square foot showroom offers a large array of flooring solutions for residential and commercial projects. The acquisition occurred on June 1, 2021.
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. Floor Source has seen explosive growth far in excess of industry norms and is positioned for sustained and continued growth backed by the strong local economy. The second acquisition, Flooring Expo by Carpet King is based in Minneapolis, Minn. Flooring Expo by Carpet King has 13 showrooms and has been serving the Twin Cities for over 75 years and has experienced growth of over 40% in the year since acquisition. The acquisition of Total Flooring, Inc. adds another strong performing business to the portfolio in a strategic marketplace with strong growth potential. It is the intent of 31st Street Capital 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."
ABOUT 31ST STREET CAPITAL: 31st Street Capital is a family-owned Holding Company that was founded in 2018, by Nick and Erin Bock. Their unique business approach is centered around finding companies with existing management teams in place, then investing in those teams and businesses with the goal of holding and growing them long term. 31st Street Capital is intentional about choosing the right companies to add to their portfolio and believe in making an impact with its employees, its companies and in the communities they serve. To learn more, please visit www.31stCapital.com.
SOURCE 31st Street Capital