Live Ventures Incorporated acquired Flooring Liquidators, Inc. for $95.4 million.
January 19, 2023
Share
Live Ventures Incorporated acquired Flooring Liquidators, Inc. for $84 million on January 18, 2023. The transaction, valued at approximately $84 million, was financed through a combination of cash, debt, including a $5 million note from Isaac Capital Group, and the issuance of 116,441 shares of our common stock, representing a 3.78% dilution of Live Ventures? fully diluted common stock. As part of the transaction, Live Ventures also acquired Floorable, LLC, the company?s franchise opportunity utilizing proprietary in-home shopping mobile showrooms and an established back-office support system along with K2L Leasing, LLC and SJ &K Equipment, Inc. As part of the acquisition, Live Ventures will retain Flooring Liquidators? existing management team and all 625 employees and contractors.
Live Ventures Incorporated completed the acquisition of Flooring Liquidators, Inc. for $95.4 million January 18, 2023. Live Ventures also acquired $7.9 million of cash and assumed $16.7 million of liabilities of Flooring Liquidators.
Live Ventures Incorporated is a diversified holding company focused on value-oriented acquisitions of domestic middle-market companies. Its segments include Retail-Entertainment, Retail-Flooring, Flooring Manufacturing, Steel Manufacturing, and Corporate and Other. The Retail-Entertainment segment includes Vintage Stock, Inc., which is engaged in the retail sale of new and used movies, music, comics, books, game systems and components. The Retail-Flooring segment includes Flooring Liquidators, Inc., which is engaged in the retail sale and installation of floors, carpets and countertops. The Flooring Manufacturing segment includes Marquis Industries, Inc., which is engaged in the manufacture and sale of carpet and the sale of vinyl and wood floor coverings. The Steel Manufacturing Segment includes Precision Industries, Inc., which is engaged in the manufacture and sale of alloy and steel plates, ground flat stock and drill rods. It also offers fabricated metal products for data centers.