CLEVELAND, Nov. 15, 2018 /PRNewswire/ -- American Industrial Partners (AIP),
a private equity firm with substantial holdings in the construction industry,
announced today that it had entered into an agreement to purchase the wood
flooring operations of Armstrong Flooring. The transaction, which is expected to
be completed in the fourth quarter of 2018, will benefit both companies.
According to Freedonia Group industry analyst Matt Zielenski, "AIP's purchase of
Armstrong Flooring's wood flooring business will complement a number of its
existing holdings, especially its ACPI cabinet manufacturing subsidiary."
"AIP will benefit from being able to offer an expanded wood product line to home
builders and kitchen and bathroom remodeling specialists throughout the US and
Canada, as well as by being able to achieve greater economies of scale in the
purchase of lumber."
For Armstrong Flooring, the transaction allows the firm to concentrate on the
manufacture and sale of vinyl flooring, particularly luxury vinyl tile (LVT) and
rigid core flooring.
Zielenski noted, "LVT and rigid core flooring – vinyl flooring with a reinforced
core that imparts superior durability – have both seen rapid increases in demand
over the past few years due to their favorable aesthetics and modest cost. Sales
of LVT and rigid core flooring will continue to post strong gains going forward
as US consumer flooring preferences continue to shift towards products that look
like wood but cost less and are easier to install."
For more information on the outlook for the US flooring and remodeling markets,
see The Freedonia Group's Construction Studies page featuring the following
Home Kitchen & Bathroom Remodeling
Global Housing Outlook
Global Hard Surface Flooring
Hard Surface Flooring
Carpets & Rugs
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