Private equity firm HIG Capital’s portfolio company, Lexmark Carpet Mills, has completed the acquisition of Northwest Carpet, a manufacturer of broadloom carpet for hospitality, residential and niche commercial applications.
Todd White, CEO of Lexmark, says: “Northwest represents an attractive acquisition as we continue to grow our business. There are significant synergies and opportunities to enhance our design and service capabilities for our customers.”
Ricky Stokes (pictured), Managing Director of HIG Capital, says: “Northwest is an industry leader with a long track record of producing high quality, design-focused broadloom carpet targeted exclusively at the hospitality market. Northwest and Lexmark are highly complementary businesses. We are pleased to support the team in their growth and continued success.”
Randy Coker, President of Northwest, adds: "We are excited to partner with Lexmark. The combination will allow us to expand our product offerings, design capabilities and custom options, reduce our lead time, and ultimately better serve our customers.”
