Plotted by close date where disclosed, otherwise announcement. Select any marker to jump to the deal entry.
Three patterns show up across Floor & Decor's deal book — what the team buys, how it pays, and how it integrates. The patterns are the throughline; the deals below are the evidence.
2 acquisitions. Each entry carries the deal value, financing structure, target revenue, executive commentary, and the original SEC filing — the evidence behind the patterns above.
Spartan Surfaces is an end-to-end commercial flooring specifying distribution company headquartered in Bel Air, Maryland, serving the architectural and design community through a scalable specifying and consultative selling model. Floor & Decor acquired 100% of the issued and outstanding equity interests; Spartan operates as a subsidiary and continued to be led by its existing senior management team. Up to $90 million (announced); $77.7 million total purchase consideration at acquisition-date fair value per FY2023 10-K — $63.6 million cash net of cash acquired, $9.1 million contingent consideration, and $5.0 million of common stock, plus potential earn-out of up to $18.0 million through fiscal 2024.
We have seen strong growth in our commercial business over the last several years by providing a simplified, reliable and lower cost solution for commercial projects that leverages our merchandise sourcing and supply chain infrastructure. The addressable commercial market is large at an estimated $13 billion, and we believe Spartan Surfaces is the right strategic partner to enable us to incrementally accelerate our commercial flooring growth plans through their scalable specifying and consultative selling business model that primarily serves the architectural and design community.Tom Taylor — Chief Executive Officer, Floor & Decor
Floor & Decor's extensive sourcing and distribution capabilities of innovative, trend-forward products will serve as a key selling point for our business development team and for projects that depend on reliability and near-term supply. As we look to the future, we are excited that Floor & Decor has the experience and resources to help us accelerate our growth plans into many untapped and highly fragmented markets across the United States, while maintaining our unique culture.Kevin Jablon — Founder and CEO, Spartan Surfaces
Salesmaster Associates, Inc. is a seller of commercial surfaces that primarily serves end users and flooring contractors in New York City and certain New England markets. Floor & Decor acquired Salesmaster on June 7, 2023 as part of its continued expansion into commercial surfaces; Salesmaster is a wholly owned subsidiary of Spartan. $20.1 million total estimated consideration — $17.4 million cash plus contingent consideration with an estimated fair value of $2.8 million.
As part of the Company's continued expansion into commercial surfaces, the Company acquired a seller of commercial surfaces Salesmaster Associates, Inc. ('Salesmaster') on June 7, 2023. Total estimated consideration for the acquisition was $20.1 million, including $17.4 million of cash and contingent consideration with an estimated fair value of $2.8 million.Floor & Decor FY2023 10-K — Note 15 Acquisitions