Lynx is pleased to announce the acquisition of Fort Lauderdale’s Resource4Floors
December 14, 2022
December 14, 2022 – Toronto, ON/Fort Lauderdale, FL – Lynx is pleased to announce the synergistic acquisition of Fort Lauderdale’s Resource4Floors (“Resource” or “the Company”). Since 1980, Resource has been providing full-service commercial flooring solutions to general contractors and end-users in the education, healthcare, hospitality, and retail sectors. Over the last four decades, Resource has fostered a strong reputation for its quality of services and versatility, furthering the Company as a premier and reliable one-stop shop for all flooring needs.
Lynx has committed to acquiring and consolidating companies in the commercial flooring industry with Resource as the newest addition to the Lynx Flooring Portfolio (“LFP”) and Lynx’s first ever acquisition in Florida. This acquisition builds upon the LFP’s continued success with expected synergies to be realized between the Group, which has been growing since the first acquisition in 2014. Moving forward, David Vernon, the President of Resource4Floors, will remain with the Company in his current role.
“As the third owner of Resource4Floors, ensuring the long-term survival and prosperity after my ownership has been my number one goal,” shared David Vernon. “Finding a partner truly committed to the continued growth, success, and preservation of our local culture were the keys to my decision. Throughout the process, Lynx has proven to be the right choice for our people and for taking us to the next level in being the dominant commercial flooring contractor in South Florida. We look forward to the future without limits on what can be accomplished.”
“As we have been actively building out the LFP, we've developed strong criteria for acquisitions in this space and Resource was a great fit,” commented Mujtaba Abidi, Lynx's Senior M&A Associate. "David is committed to a long-term relationship with Lynx and we are excited to support him and his team in growing this great business.”
The transaction was facilitated with buy-side legal and accounting services provided by Minden Gross and Deloitte, respectively.
Resource is a full-service commercial flooring contractor providing distribution and installation of a variety of flooring materials. The team is comprised of skilled installers and a management team capable of meeting diverse customer needs.
To learn more about Resource4Floors, please visit www.resource4floors.com
About Lynx Equity Limited
With sales in excess of $650M CAD, Lynx Equity Limited is a diversified Toronto-based private equity firm focused on acquiring small and medium-sized businesses from owners looking to retire or seeking strategic opportunities. Lynx targets acquisitions of companies with EBITDA between CAD $1M - $5M and utilizes a buy and hold strategy.
To learn more about Lynx, please visit www.lynxequity.com
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