Lynx Equity is pleased to announce the synergistic acquisition of Shehadi Commercial Flooring
June 9, 2021
June 10, 2021 – Toronto, ON /Fairfield, NJ – Lynx Equity Limited is pleased to announce the synergistic acquisition of New Jersey’s Shehadi Commercial Flooring (“Shehadi” or “the Company”). With roots dating back to 1900, Shehadi is recognized as an industry leader for residential and commercial flooring products and services in the New Jersey and New York marketplace. As a fourth-generation family business, the Company has garnered a strong reputation among both old and new customers for providing superior customer service and a commitment to getting jobs done effectively.
Lynx has experienced success to date acquiring and consolidating companies in the commercial flooring industry. Shehadi is a strong addition to the Lynx Flooring Portfolio (“LFP”), and will bolster the effectiveness of any LFP synergies, while also expanding the LFP’s reach towards the East Coast. Shehadi’s financial strength and technically skilled staff enables them to deliver high-quality work on major projects that are beyond their competitors’ abilities. This, in addition to their excellent reputation and customer relationships, make the Company a strong addition to the Lynx portfolio.
“We are very happy to welcome Shehadi into the Lynx family at large, and the LFP. John Shehadi is a very experienced operator, has built a great business with an impressive team, and we look forward to a fruitful partnership for years to come,” said Eric Persi, Vice President of Mergers and Acquisitions.
“We at Shehadi Commercial Flooring are excited about joining Lynx Equity Limited and their growing portfolio of outstanding flooring companies. We were looking for the right company to join and this deal with Lynx sets our team up for a bright future moving forward in the flooring industry,” commented John Shehadi, President of Shehadi Commercial Flooring.
The transaction was facilitated with buy-side legal and accounting services provided by Minden Gross and Ernst & Young respectively.
Lynx’s flooring portfolio currently includes Portland, OR’s Floor Solutions, acquired by Lynx in 2014, G&W Commercial Interiors, acquired in 2017, Livermore, CA’s Flooring Solutions, acquired in 2018, Ephrata, WA’s Prime Flooring, acquired in 2019, and Portland, OR’s DeBenedetto’s Commercial Flooring, acquired in 2020. Lynx continues to pursue a variety of acquisition opportunities in North America and Europe.
About Shehadi Commercial Flooring
Shehadi provides residential and commercial flooring solutions to the healthcare, multi-family, educational, corporate and hospitality industries. The Company continues to experience growth, recently expanding into “hard surface” categories (i.e., hardwood, stone and ceramic) to complement “soft surface” products and services.
About Lynx Equity Limited
With sales in excess of $500M CAD, Lynx Equity Limited is a diversified Toronto-based private equity firm focused on buying and holding small and medium-sized businesses from owners looking to retire or seeking strategic opportunities. Lynx targets acquisitions of companies with EBITDA between $750K – $2.5MM USD.
For further information on Lynx Equity, please visit www.lynxequity.com
For press inquiries, please contact:
Ashley Manis
T: 416-454-3782
