Center Rock acquisition of Merit Distribution : Michigan-based private equity firm Center Rock Capital Partners has acquired The Merit Distribution Group, a distributor of paint sundries, flooring products, and related installation supplies, from Centre Lane Partners for an undisclosed price.

Merit Distribution, which is based in Spartanburg, South Carolina, distributes more than 30,000 products from nearly 600 manufacturers to over 11,000 customers in the Americas, and also in Australia and Poland. The company has 10 distribution centers to go along with 23 branch locations.

The company operates its business under the brand names of EJ Welch in the flooring products and supplies industry and Lancaster in the paint sundries industry.

Centre Lane Partners acquired the company from bankruptcy in 2011 for $46 million.

By investing in Merit Distribution and by making accretive acquisitions, the New York-based private equity firm along with the management team expanded the business into new markets and ancillary channels to diversify its service offerings, customers base, and geographic footprint.

Commenting on Center Rock acquisition of Merit Distribution, Mitch Jolley – Merit Distribution CEO, said: “The Merit team has worked hard to successfully enter new product categories and penetrate new territories. Center Rock’s team demonstrated a deep understanding of our company’s capabilities, product portfolio, and customer-centric culture. With Center Rock as our partner, we are eager to pursue further growth via organic initiatives and acquisitions.”

Merit Distribution the third platform investment in Center Rock’s first investment vehicle Center Rock Capital Partners Fund I, which closed last September.

Ian Kirson – Partner at Center Rock, commenting on Center Rock acquisition of Merit Distribution, said: “Mitch and Merit’s management team have built a market leading and scalable platform in paint sundries and flooring products distribution. With an extensive geographic reach and sophisticated systems, Merit meets its customers’ critical supply chain needs more efficiently and effectively than its competitors.”

  Center Rock Capital Partners, Centre Lane Partners, Ian Kirson, Merit Distribution Group, Mitch Jolley, South Carolina, USA