Nasdaq-listed Live Ventures Incorporated has acquired Flooring Liquidators, a retailer and installer of carpets, floors, and countertops to consumers, contractors, and builders in California and Nevada.

The deal, which is worth around $84 million, was financed via a mix of cash and debt. This includes a note of $5 million from Isaac Capital Group and the issuance of 116,441 shares of Live Ventures, a holding company pursuing value-oriented acquisitions of middle-market companies in the US.

Founded in 1997, Flooring Liquidators operates 20 warehouse-format stores as well as a design center.

The company serves retail and builder customers through its Flooring Liquidators retail stores, contractor and builder customers through Elite Builder Services, and business and residential customers through 7 Day Stone.

As part of the deal, Flooring Liquidators’ present management team and all 625 employees and contractors will be retained by Live Ventures.

Jon Isaac — Live Ventures President and CEO said: “This is the kind of company we love—run by a visionary founder, staffed by talented people, and providing products and services that individuals and businesses want and need. It fits perfectly within our existing operation and our ‘buy-build-hold’ strategy.

“We expect the acquisition to increase our overall revenues by approximately 50%, or about $125 million per year, and grow in the coming years.”

Under the same transaction, Live Ventures also acquired Floorable, which is Flooring Liquidators’ franchise opportunity.

Steve Kellogg — Flooring Liquidators founder and CEO said: “We’re very proud of what we’ve accomplished.

“We know there are strong growth opportunities in all three of our divisions: retail, builder, and mobile store. We look forward to collaborating with Jon’s team to gain access to growth capital and to benefit from our respective business expertise.”

  California, Flooring Liquidators, Jon Isaac, Live Ventures Incorporated, Nevada, Steve Kellogg, USA