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

Mon Mar 4, 2013 8:25am EST

* Reuters is not responsible for the content in this press release.

  CLEVELAND, OH, Mar 04 (Marketwire) -- 
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 more information, 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 

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