Live Ventures acquires flooring company Flooring Liquidators for $84m

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.”