Hennepin Partners Advises Tile Redi on its Sale to Mayfair Capital
Charlotte, NC – Tile Redi Holdings, LLC (“Tile Redi” or the “Company”) has been acquired by Mayfair Capital Partners, a division of Oxford Financial Group, Ltd. Hennepin Partners served as Tile Redi’s exclusive financial advisor and Greenberg Traurig, LLP served as legal counsel. The transaction closed on February 28th, 2022. Terms of the transaction were not disclosed.
Tile Redi is an engineering-driven manufacturer of innovative, patent-protected and branded shower pan solution building products. As the market leader for one-piece, customizable shower pans that are leak-proof, easy-to-install and UL certified, the Company pioneered the segment’s “ready-to-tile” technology. Tile Redi’s growing product offering spans both standard and custom products which allows the Company to serve multiple end markets. The proven value-proposition of Tile Redi’s innovative products have engendered trusted relationships with blue chip channel partners in the shower & bath market, serving customers across e-commerce and retail, in addition to direct to builders/developers and direct to consumer channels. Tile Redi can support any application need – from professional contractors managing large scale hospitality projects to single installation residential do-it-yourself homeowners. The Company’s products are made in the USA at Company-owned manufacturing operations located in Elkhart, IN, where quality and innovation are paramount to the Company’s best performing functional bathroom solutions in the market.
“Going into the process, we didn’t know what type of transaction or buyer was best for what we wanted to achieve. Hennepin advised and educated us as to the various alternatives and then orchestrated a robust process that delivered numerous options across various transaction structures and buyer types, ultimately delivering successfully against all of the objectives we were trying to accomplish. They provided invaluable advice at each stage of the process and I’m incredibly grateful that I chose Hennepin Partners to advise and guide us through the process,” said Joe Cook, former CEO and majority owner of Tile Redi. “Hennepin is a true partner and advisor. From the start of the process through the day of closing, Hennepin was thoughtful, creative and rigorous in how they managed the process. We couldn’t have gotten to this quality of outcome without Hennepin,” added Sean Boes, CEO (previously President) of Tile Redi.