October 24, 2017
The Company has built a national brand name in the engineered hardwood flooring market. Its premium-quality products are sold exclusively to a national customer base of 2,500 retailers. The Company designs seven proprietary flooring lines in 70 styles that change every two years. The flooring is designed in the U.S. and manufactured in Asia; moldings and some custom items produced in the Company’s U.S. facility.
Sales are on track to achieve $32.3 million in 2017 with $2.2 million in adjusted EBITDA. Sales for 2018 are conservatively projected to increase 5%.
The Company operates from a large facility and two leased warehouses strategically located near customers. Management has built a diverse and reliable supplier base of low-cost manufacturers in Asia.
In the first half of 2017 alone, the Company added 315 new customers – twice as many as in the same period in 2016. About 10% of accounts are to multi-location retailers and no single customer accounts for more than 10% of annual sales. The Company processes 250-300 orders per week with the average purchase order ranging from $3,000-$6,000
Est. 2017 Adj. Revenue: $32.2 million
Est. 2017 Adj. EBITDA: $2.2 million