Brampton flooring company Shnier-Gesco Limited Partnership announced Monday it had been acquired by with U.S. private equity firm Blue Point Capital Partners.
Shnier, the largest full-service distributor of floor coverings in Canada, is Blue Point Capital Partners’ 15th platform company for Blue Point II, its vintage middle-market buyout fund.
Shnier said in a statement that the company is focused on leveraging Blue Point’s operating resources and experience to optimize its supply chain. Shnier will also begin an acquisition campaign to further develop the company’s revenue stream.
“Shnier is a demonstrated leader in the Canadian floor covering marketplace with an impeccable reputation for quality,” Shnier president and chief executive officer Ed duDomaine said in a statement. “Blue Point’s strategic and operational focus made it the obvious choice and ideal partner to execute this next phase of growth for the company. The best is yet to come for Shnier.”
Founded in 1938, Shnier’s headquarters is located on Kenview Boulevard in Brampton. The company operates five state-of-the-art, warehouse, sales office and showroom facilities across Canada.