Select Interior Concepts acquires T.A.C. Ceramic Tile Co. for $43M
Select Interior Concepts announced the acquisition of T.A.C. Ceramic Tile Co, an installer of residential and light commercial flooring with annualized sales of approximately $70M. Founded in 1985, T.A.C. specializes in design center selections and installation of all types of interior flooring surfaces, including tile, hardwood and carpet. T.A.C. primarily serves national, regional and local builders, along with retail clients in Virginia, Maryland and West Virginia through two design centers located in the Metro D.C. area. The acquisition increases the footprint of the Company's Residential Design Services segment to 31 locations, including 21 design centers across the United States. Payment at closing to owners of T.A.C including transaction costs was approximately $43M cash. Owners of T.A.C also have the ability to earn future additional payments, subject to achieving certain performance metrics in 2019.