H.I.G. Capital News
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H.I.G. Capital Announces Investment in Lexmark Carpet Mills
MIAMI – October 1, 2013 – H.I.G. Capital, L.L.C., a leading global private equity firm with more than $13 billion of capital under management, announced today that its affiliate has made a strategic investment in Lexmark Carpet Mills, Inc. (“Lexmark”), a leading manufacturer of broadloom carpet for hospitality, residential and niche commercial applications.
Lexmark is a leading specialty carpet mill, focused on supplying high-styled nylon and polyester carpet to customers in the hospitality, residential and niche commercial end markets. Since 1993, Lexmark has built a strong reputation for product quality and customer service. The Company’s state-of-the-art operating platform and vertical integration provide the basis for Lexmark’s high quality products, increased production flexibility and some of the shortest lead-times in the industry. A combination of service, styling, quality and competitive pricing has established Lexmark as a market leader in the hospitality segment and has allowed the Company to successfully expand into residential and niche commercial markets.
Todd White, Founder and CEO of Lexmark, commented "We are very excited about this next stage for Lexmark. Our partnership with H.I.G. will provide us with financial and operating resources that will enable us to further capitalize on our significant growth potential at an exciting time for our industry."
"Todd and his team have established Lexmark as a leading manufacturer of high-styled broadloom carpet for hospitality, residential and niche commercial customers," added Ricky Stokes, a Managing Director of H.I.G. “We look forward to working with the team to build upon their successful track record. We believe there are numerous opportunities, both in hospitality as well as new markets and applications, where Lexmark’s quality products and focus on customer service will enable continued, sustainable growth.”
About Lexmark Carpet Mills
Founded in 1993, Lexmark Carpet Mills is a leading producer of broadloom carpet for hospitality, residential and niche commercial applications. The Company’s vertically-integrated manufacturing capabilities, state-of-the-art equipment and unsurpassed customer service distinguish Lexmark as a leading specialty mill that is capable of producing quality custom, highly-styled nylon and polyester carpet with industry leading turnaround times.
About H.I.G. Capital
H.I.G. is a leading global private equity investment firm with more than $13 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York and San Francisco in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Paris and Rio de Janeiro, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm's current portfolio includes more than 80 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.