The owners of Galleher Corporation (Santa Fe Spring, Calif.) sold a majority stake in the company to private equity firm Quad-C Management (Charlottesville, Va.) for an undisclosed sum. The deal closed Oct. 31.
The company’s management team, led by industry stalwarts Jeff Hamar, Todd Hamar and Rick Coates, is maintaining a large stake in the company and will continue to lead Galleher following the sale as it looks to aggressively pursue growth.
“The capital availability with Quad-C really creates a powerful combination that we think could revolutionize the state of distribution in America,” Hamar told Wood Floor Business.
While part of that growth will come organically, Hamar said it will also be driven by acquisitions. Galleher already bought a custom wood flooring mill, Copper Plank Custom Mill in Scottsdale, Ariz., earlier this year. Hamar said the company is now pursuing acquisitions in the distribution sector.
Quad-C is the perfect partner for the company’s future plans, he said, as the company is active in the building products and specialty distribution sectors. Recent and past investments include Stanton Carpet, Tandus Flooring, Wolf Home Products, InterWrap and Generation Brands.
“The process was long and thorough, and I couldn’t be more excited,” Hamar said.
