Valesco Invests in Express Home Services LLC
On November 27, 2019, Valesco Closed its Eighth Platform Investment out of Valesco Fund II
Jan 31, 2020
On November 27, 2019, Valesco closed its eighth platform investment out of Valesco Fund II. The transaction was a majority buyout of Express Home Services, LLC (“Express Flooring”) – a premier, regional provider of residential and commercial flooring solutions. Express, headquartered in Phoenix, AZ, is the dominant flooring provider in the area and possesses a deep management team that is excited for a partnership with Valesco.
Express Flooring offers its customers a complete range of the highest quality flooring products including carpet, tile, laminate, hardwood, stone, and vinyl plank from the industry’s top manufacturers. In the residential sector, the Company focuses solely on the home remodeling market and serves its residential customers exclusively through in-home sales. Express Flooring’s unique business model creates a compelling value proposition for the customer most notably through thorough efficient lead generation, comprehensive in-home appointments led by professional third party Design Consultants, transparent pricing, incentive programs, next-day installation with free furniture removal, and a lifetime installation warranty.
Valesco’s investment supports a control recapitalization of the existing ownership group and will support the continued growth of Express Flooring’s business in the Arizona market as well as expansion into new markets across the United States. Co-investors on the opportunity include Express management, Brookside Mezzanine Partners, Longhouse Partners & HighGrove Companies. Senior debt was provided by a Bank who is an investor in Valesco Fund II.
Valesco continues to seek investment opportunities to provide equity and subordinated debt for control buyout, recapitalization, minority, management buyout and mezzanine situations from Valesco Fund II. Express Flooring is a great example of relationship, partnership and creativity to find the best possible outcome for the business, the founding shareholders and Valesco. The company is poised for continued success and we could not be more excited to add Express Flooring to our growing portfolio.