Impact Property Solutions Acquires North Carolina Flooring Firm
Impact Property Solutions, a Dallas-based portfolio company of Blue Sage Capital, has acquired Multi Floors, a Raleigh, North Carolina, provider of restoration services, as well as flooring products and installation services to multifamily properties and retail refinishing.
Multi covers the broader Raleigh-Durham area and other nearby cities in eastern North Carolina. Founder Brent Rice has led the company for over 20 years. He will continue in his current position.
“Brent, his son CB, and the Multi team represent another exciting partnership to bring into the Impact family,” said Kerry Jones, CEO of Impact Property Solutions. “Brent and team have deep roots in the Raleigh-Durham market, and Impact will bring additional resources and relationships to bear in North Carolina to maximize Multi’s strong platform in order to grow alongside this flourishing market."
Blue Sage Capital initially invested in Impact at the end of 2020. Since then, Blue Sage has supported the strengthening of the Texas platform and three acquisitions across the Sun Belt. The company focuses on multifamily flooring solutions, including replacement and renovation. Impact is continuing to seek add-on acquisition targets who offer similar or complementary services in new markets.
Blue Sage Capital is an Austin, Texas-based private equity firm that has been investing in profitable, growing, lower middle-market companies since 2002. Blue Sage currently has over $400 million of assets under management. The firm typically invests $20 million to $40 million in control buyout investments and recapitalizations of companies with $20 million to $200 million of revenue.
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