Houlihan Lokey Advises Virginia Tile Company

Houlihan Lokey is pleased to announce that Virginia Tile Company, LLC (Virginia Tile), a portfolio company of Harren Equity Partners (Harren), has been acquired by Transom Capital Group, LLC (Transom).

Founded in 1928, Virginia Tile is the leading, tech-enabled specialty distributor of ceramic, porcelain, and natural stone tile in key metropolitan markets throughout the Midwest. Virginia Tile serves a diverse mix of trade professionals in both residential and commercial end markets with a broad selection of design-centric tiles, decorative surfaces, and installation accessory products. The company’s customers include flooring contractors, dealers, commercial installers, builders, designers, and architects. Virginia Tile is headquartered in Livonia, Michigan, and operates 19 showrooms across 12 states.

Harren is a Charlottesville, Virginia-based private equity firm dedicated to the growth and development of industry-leading companies through the creation of strong partnerships. Harren’s strategy is to create long-term value by improving operational performance, providing in-depth strategic analysis, and executing a plan in partnership with portfolio company executives. Harren professionals take time to learn the business from the beginning of the investment process, develop and implement a strategic business plan, and support management with the increasingly complicated decisions associated with growing a business.

Transom is an operations-focused private equity firm focused on investing in the middle market. The firm strives to create long-term value by partnering with established businesses and helping them navigate transformative growth. Transom’s functional pattern recognition, access to capital, and ARMOR^SM Value Creation Process combine with managements’ industry expertise to create improved operational efficiency, significant top-line growth, cultural transformation, and overall distinctive outcomes. Transom is headquartered in Los Angeles.

Houlihan Lokey served as the financial advisor to Virginia Tile and Harren and assisted in initiating, structuring, and negotiating the transaction on their behalf. This deal highlights Houlihan Lokey’s dedicated sector expertise and continued success advising market-leading specialty distributors and building products companies, notably within the tile, stone, and floor coverings space.

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