Blue Point Capital Partners Acquires Shnier, Canada's Leading Distributor of Floor Covering Solutions

Mon Mar 4, 2013 8:25am EST

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Marketwire

Blue Point Capital Partners, LLC

March 4, 2013 - 08:25:09 AM

Blue Point Capital Partners Acquires Shnier, Canada's Leading Distributor of
Floor Covering Solutions

CLEVELAND, OH--(Marketwire - March 04, 2013) - Blue Point Capital Partners
announced today the recapitalization of Shnier-Gesco Limited Partnership
(Shnier). Counting 75 years serving the Canadian flooring market, Shnier is
the largest full-service distributor of floor coverings in Canada, selling
proprietary and branded products and programs spanning all flooring categories
through an established base of independent retailers.

Blue Point, with offices in Charlotte, Cleveland, Seattle and Shanghai, is one
of the largest resident private equity firms in each of its target markets.
Shnier represents the 15th platform company for Blue Point II, a 2006 vintage
middle-market buyout fund with $400 million in committed capital. Shnier is a
natural fit within the Blue Point portfolio given its financial strength and
leading position within a highly fragmented marketplace. The firm's investment
in Shnier is focused on leveraging Blue Point's operating resources and
experience to optimize the Company's supply chain as well as to embark on an
acquisition campaign to further develop the Company's revenue stream.

"Shnier is a demonstrated leader in the Canadian floor covering marketplace
with an impeccable reputation for quality," said Ed duDomaine, president and
chief executive officer of Shnier. "Blue Point's strategic and operational
focus made it the obvious choice and ideal partner to execute this next phase
of growth for the Company. We remain focused on serving our customers with
high-quality flooring solutions and unsurpassed levels of service. The best is
yet to come for Shnier."

"We believe Shnier's proven management team and strong legacy in the flooring
market create a dynamic platform with actionable organic and strategic
opportunities," said Sean Ward, a partner with Blue Point. "We look forward to
a successful and rewarding partnership together."

Founded in 1938, Shnier (www.shnier.ca) sells and services over 4,000
residential and commercial flooring customers, offering value-add products,
programs and services. Shnier is headquartered in Brampton, Ontario, and
operates 5 state-of-the-art, warehouse, sales office and showroom facilities
across Canada.

Blue Point Capital Partners (www.bluepointcapital.com) is an established
private equity firm managing over $800 million in committed capital.
Leveraging fully staffed offices in Charlotte, Cleveland, Seattle and
Shanghai, Blue Point's entrenched regional presence affords it the opportunity
to establish relationships on a local and regional basis with entrepreneurs
and their trusted advisors, while simultaneously providing the resources of a
large, international firm. Blue Point has a 22-year track record of partnering
with companies in the lower middle market where it can bring about accelerated
growth and transformative change in partnership with its companies, their
management teams and Blue Point's network of operating resources. Blue Point
is one of only a few middle-market private equity firms with a presence in the
economies of both the United States and China, and the firm's experience with
cross-border management and value drivers has provided a distinct advantage
for its portfolio businesses. Blue Point invests in manufacturing,
distribution and service businesses generating $20 million to $200 million in
revenue.



FOR FURTHER INFORMATION PLEASE CONTACT: 
BLUE POINT CAPITAL PARTNERS
Sean Ward
Partner
Blue Point Capital Partners, LLC
127 Public Square, Suite 5100
Cleveland, OH 44114


(216) 535-4705


SHNIER
Ed duDomaine
President and CEO
Shnier-Gesco Limited Partnership
50 Kenview Boulevard
Brampton, ON L6T 5S8


Canada
(905) 789-3755