Bauwerk Group AG (St. Margrethen, Switzerland) announced its acquisition of Somerset Hardwood Flooring (Somerset, Ky.) for an undisclosed sum.
The Somerset Hardwood Flooring brand will remain in place and complement Bauwerk’s other brands, which include Boen and Bauwerk Parquet. Longtime Somerset Hardwood Flooring VP Sales & Marketing Paul Stringer will serve as president and CEO.
The acquisition was effective May 1. Following the acquisition, Steve Merrick, who founded Somerset Hardwood Flooring in 1990, will continue to operate Somerset Hardwood Lumber Inc. under the new name Merrick Hardwoods Inc. Merrick will also continue to run his other companies, which include Somerset Biofuel Inc., Kentucky Hardwood Lumber Company Inc. and Interstate Hardwoods Inc. Merrick’s companies will continue to manufacture and market their unfinished solid wood flooring.
Somerset Hardwood Flooring operates out of its main plant in Somerset, Ky., and manufacturing facility in Crossville, Tenn., and has nationwide distribution.
"With Somerset Hardwood Flooring, we have found the ideal partner for Bauwerk Group AG's U.S. expansion,” Bauwerk Group President and CEO Patrick Hardy stated. “All the requirements we have set for an acquisition, such as good market positioning, own production and a fit in terms of values and people, apply to Somerset Hardwood Flooring.”
