Paceline Equity Acquires Armstrong Wood Flooring from American Industrial Partners

Mountville, PA—Paceline Equity Partners, LLC today announced that an affiliate has entered into a definitive agreement to acquire AHF Products from American Industrial Partners.

AHF Products is the largest U.S. wood flooring manufacturer as well as a key player in vinyl plank flooring, laminate and commercial flooring products and sells under the nation’s leading brands, including Bruce, Hartco, LM Flooring, Robbins, Hearthwood and Parterre. The company produces both solid and engineered wood flooring in 8 plants and serves customers through 3 distribution locations and a multi-channel strategy that includes dealers, home centers and distributors around the world.

Sam Loughlin, CEO of Paceline, said, “AHF Products, with its proven track record for growth, has built a comprehensive portfolio of trusted flooring brands and represents an attractive opportunity to continue to transform the industry. Leveraging our building products experience and a strong team at AHF, we expect to generate significant growth through organic opportunities and M&A.”

Brian Carson, CEO of AHF Products said, “AHF Products has experienced incredible growth since inception and we’re thrilled to partner with Paceline with a shared vision of how we will take the business to the next level. Our tremendous momentum to date is a credit to our valued customers, suppliers, and employees. We will continue to drive value for our customers through new products, brands, and innovation.”

Rick Hoffman, a Partner at American Industrial Partners said, “We have greatly enjoyed the partnership with AHF Products, its best-in-class management team, and its dedicated global workforce. Since formation in 2019, AHF Products has experienced remarkable growth and is well positioned to continue its trajectory through continued innovation and superb customer service.”

The transaction is subject to customary closing conditions and is expected to close in the first quarter of 2022. King & Spalding is serving as legal advisor to Paceline Equity Partners.

BofA Securities served as financial advisor to AHF Products. Ropes & Gray LLP is serving as legal advisor to American Industrial Partners.

For more information, visit www.AHFProducts.com.

About Paceline Equity Partners

Paceline is a Dallas-based private equity manager focused on value-oriented, opportunistic, and special situations investments across private equity, corporate credit, and real assets. Paceline’s senior leadership team members average 24 years of professional experience. Prior to the formation of Paceline, the senior leadership team worked together for approximately 10 years at a global private equity manager and its affiliates. To learn more, please visit www.pacelineequity.com.

 AHF Products originated as a spinoff of Armstrong Industries wood flooring business, which was sold in a $100 million deal in December 2018. That deal, which closed in January 2019, left the luxury vinyl tile and other non-wood flooring business with Armstrong. In the portfolio of American Industrial Partners (AIP), AHF Products manufactures solid and engineered hardwood flooring products under the brands Bruce, Hartco, LM Flooring, Robbins, Capella, HomerWood, Autograph, and tmbr, at six sites and one distribution center in the U.S. and Cambodia. (American Industrial Partners is the same entity that acquired Armstrong’s cabinet businesses.)

About AHF Products

AHF Products is the leader in hardwood and vinyl flooring with a family of strong brands serving the residential and commercial markets. With decades of experience in award-winning wood flooring design, innovation, product development, manufacturing, and service, we improve the quality of people’s lives through great products and a deep commitment to outstanding customer service. Our flooring brands include Bruce®, Hartco®, LM Flooring ®, Robbins®, Capella®, HomerWood®, tmbr™, Hearthwood and Parterre. Headquartered in Mountville, Pennsylvania with manufacturing operations across the United States and in Cambodia, AHF Products employs over 2,400 dedicated team members. www.AHFProducts.com

All marks are owned by AHF, LLC, its affiliates, or subsidiaries. All rights reserved.

About American Industrial Partners

American Industrial Partners is an operationally oriented private equity firm that makes control investments in industrial businesses serving domestic and global markets. The firm has deep roots in the industrial economy and has been active in private equity investing since 1989. To date, American Industrial Partners has completed more than 100 transactions and currently has over $7 billion of assets under management on behalf of leading pension, endowment, and financial institutions. For more information on American Industrial Partners, visit www.americanindustrial.com.

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