DALLAS--(BUSINESS WIRE)--Paceline Equity Partners today announced that portfolio company AHF Products, a leading manufacturer of hard surface flooring in North America, has acquired Crossville, Inc., a premier manufacturer of porcelain tile and accessories for both residential and commercial applications in interior and exterior floors, walls, and countertops.
Founded in 1986 and headquartered in Tennessee, Crossville has been at the forefront of innovation in the tile industry since its founding as America’s first porcelain tile manufacturer. Today, Crossville produces aesthetic, sustainable porcelain materials that advance the frontiers of tile design and performance. The company also introduced the nation’s first large-format porcelain tiles, becoming the first and only net consumer of tile waste materials (meaning Crossville recycles more than it produces), and developing cutting-edge performance innovations in surfacing solutions.
Headquartered in Mountville, Pennsylvania, including the acquisition of Crossville, AHF now operates 12 manufacturing plants and has grown to nearly 3,000 employees. With 15 distinct brands and dozens of product collections spanning hardwood, vinyl, laminate, and now tile, AHF has added to its stable of product offerings in the hard surface category.
Sam Loughlin, Chief Executive Officer of Paceline, said, “The addition of Crossville to AHF represents another step towards building a North American leader in the flooring industry with differentiated capabilities. We are excited to support AHF and meaningfully expand its product offerings into porcelain and tile, enhance its manufacturing and design capabilities, and better meet customer needs.”
Leigh Sansone, Chief Investment Officer of Paceline, added, “In less than two years, Paceline has significantly increased the product and service offerings at AHF for both the residential and commercial markets, has built a world-class organization, and is investing in state-of-the-art manufacturing facilities. Crossville is one of the most highly regarded brands in commercial and residential tile products, with widespread distribution, premium products, and a blue-chip customer base. We welcome the Crossville team to the AHF family.”
Brian Carson, AHF’s President & CEO, said, “Adding a well-known and trusted brand like Crossville is a terrific complement to our legacy brands, including Bruce and Armstrong Flooring. Today, we are a more valuable supplier because we can package the high-touch service that our customers know us for with an even more diverse product offering. This will be a seamless transition for customers. AHF Products and the Crossville team will invest in the Crossville brand to expand its product offering and reach. Collectively, we will be a stronger, more capable organization with the ability to serve all our customers more effectively.”
About Paceline Equity Partners
Paceline is a Dallas-based private equity manager focused on value-oriented, opportunistic, and special situations investments across corporate credit, private equity, and real assets. With over $1 billion of commitments currently under management, Paceline’s senior leadership team has 15 years of cohesive investment experience, having worked together previously at a global private equity manager and its affiliates. To learn more, please visit www.pacelineequity.com.
About AHF Products
AHF Products is a leading hard surface flooring manufacturer in the USA with a family of trusted brands serving the residential and commercial hardwood and vinyl flooring markets. With decades of experience in award-winning flooring design, product development, manufacturing, and service, we create quality flooring to last for generations through inspiring designs, innovation, and a deep commitment to outstanding customer service. To learn more, please visit www.AHFProducts.com.