21 04 2016Blue Point Capital Partners acquires Tierra Sol Ceramic Tile Ltd.
Blue Point Capital Partners, in conjunction with its portfolio company, Shnier-GESCO Limited Partnership, announced the acquisition of Tierra Sol Ceramic Tile Ltd., a leading distributor of ceramic and porcelain tile, glass and metal accents, and natural stone products that are used for floors, walls, and commercial and residential applications.
Shnier, headquartered in Brampton, Ontario, and operates five state-of-the-art, warehouse, sales office and showroom facilities across Canada. Founded in 1938, the company offers value-added products, programs and services to its network of over 3,000 dealers.
The acquisition of Tierra Sol, which will operate as an autonomous sister division to Shnier, will deepen GESCO's capabilities in ceramic tile, complement its luxury vinyl tile business, and expand the company's geographic footprint.
The addition of Tierra Sol will increase GESCO's exposure to a desirable product segment and further diversify the company's overall product mix and geographic reach. Tierra Sol operates out of facilities in Seattle, Washington; Vancouver, British Columbia; and Calgary and Edmonton, Alberta.
Blue Point Capital Partners is a private equity firm managing over $800 million in committed capital. Leveraging offices in Cleveland, Charlotte, 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.
Jones Day acted as US counsel to Blue Point Capital Partners in connection with its acquisition of Tierra Sol Ceramic Tile Ltd. with a team led by Cleveland-based Corporate partner Denise Carkhuff. Involved fees earner: Denise Carkhuff - Jones Day;
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