LongueVue Capital Successfully Exits TileBar
LVC Successfully Exits TileBar, a Leading Omni-Channel Brand Disrupting The Flooring Sector
New Orleans, Louisiana – March 2023 – LongueVue Capital (“LVC”), a New Orleans-based private equity firm, is pleased to announce the sale of TileBar (the “Company”) to AEA Investors LP (“AEA”), a New York, NY-based private investment firm.
TileBar is a leading technology-centered, direct-to-consumer brand disrupting the large and fragmented tile and flooring sector with innovative designs, an omni-channel sales strategy, and a customer-first experience. Headquartered in Inwood, NY, TileBar has built an industry-leading reputation driven by its best-in-class e-commerce platform, cutting-edge designs, commitment to customer service, and incredible culture led by its executive leadership team since its founding in 2006.
LVC partnered with TileBar’s Founder & CEO, Eli Mechlovitz, and the Company’s management team in 2019. During the LVC partnership, TileBar more than quadrupled revenues through expanding its sales channels and product categories, launching new showrooms to scale TileBar’s brick-and-mortar presence, and enhancing its website and technology platform to substantially broaden TileBar’s brand awareness. In addition, TileBar made significant investments in infrastructure to bolster its rapid sales growth by more than tripling employee headcount and more than doubling its warehouse footprint to expand capacity.
Ryan Nagim, Managing Partner at LVC, commented, “Eli and the TileBar management team have been extraordinary partners. TileBar has realized transformative growth in a short period of time as a direct result of the team’s ability to execute Eli’s vision. The Company is a true disruptor in its respective categories, and we are excited to watch the Company’s continued success.”
“Eli and the TileBar team are a perfect example of how growth and value can be unlocked through LVC’s partnership approach of empowering entrepreneurs with infrastructure, expertise, and capital. It has been a pleasure working alongside the TileBar team to support the Company’s incredible transformation over the last few years,” added Rick Rees, Chairman and Co-Founder at LVC.
“LVC’s experience scaling founder-owned companies – coupled with their commitment to providing the capital, guidance, and resources to accelerate our strategic goals – made them the ideal partner to unlock TileBar’s extraordinary potential,” said Eli Mechlovitz, Founder & CEO of TileBar. He added, “We will cherish the strong relationships that the entire organization has developed with LVC, and we are excited for TileBar’s next chapter of growth with AEA.”
This transaction represents the firm’s fourth exit for LVC III (2017 vintage fund). Since the closing of LVC III, the team has completed fourteen platform investments and eleven add-on investments of entrepreneur-backed, high-growth businesses across a variety of industry sectors. As an opportunistic and flexible source of capital focused on value-added partnerships, LVC utilizes its financial and industry specific expertise as well as its experienced team of operating partners to drive growth and profitability within its portfolio companies. LVC remains focused on targeting investments within its key sectors, including: consumer, healthcare and life sciences, specialty packaging, transportation & logistics, food and beverage, industrial services, and niche manufacturing.
Partner Max Vorhoff, Principal Evan Golden, Senior Associate Erin Saer, Associate Rankin Hobbs, and Operating Partner Chris Homeister worked alongside Ryan Nagim and Rick Rees on the TileBar investment. William Blair & Company represented TileBar as its exclusive financial advisor. Norton Rose Fulbright (US) LLP served as legal counsel to TileBar.
To learn more about TileBar and the Company’s services, please visit www.tilebar.com.
For more information regarding LongueVue Capital’s investment strategy,
please contact Charles Cox, (504) 293-3606, email@example.com.
About LongueVue Capital
Founded in 2001, LongueVue Capital is a New Orleans-based private equity firm that focuses on providing human capital, financial capital, and a skill set built upon a successful 22-year track record of partnering with entrepreneurs and management teams to drive value creation in middle market companies. Having managed over $860 million of capital spanning four funds coupled with 150 years of combined operating and investing experience, LVC’s team is the ideal partner for middle market companies at inflection points and seeking to maximize value. LVC has made successful investments in a wide variety of industries including specialty manufacturing, transportation and logistics, healthcare, business and industrial services, and food and beverage. For more information, please visit www.lvcpartners.com.