Taylor Floor Covering, a retail and wholesale floor covering business based in Elkhart, has been acquired by investor and business owner Marc Waite. Former Taylor owners Dave and Jayne Steed say the acquisition will allow them to transition into retirement.
Waite previously lived in South Bend for 26 years and currently resides in South Carolina where he owns and operates Pool Services Corp.
Taylor, which was established in 1990, sells its flooring materials to subcontractors and individuals. The company employs five people and says no jobs will be affected by the acquisition.
“What I most look forward to with the acquisition is getting back to Northern Indiana and working with Midwest people,” said Waite. “I am excited to learn the business, form new relationships, and continue Dave and Jayne’s legacy. I want to be sure we uphold their standard of customer service.”
Scott Nicholson of Calder Capital served as the lead mergers and acquisitions advisor to Taylor Floor Covering.
“Dave and Jayne are shining examples of how prioritizing integrity and customer service can lead to incredible success. They have created a beautiful business and have consistently been among the most genuine sellers I’ve worked with,” said Nicholson. “I’m glad that he [Waite] will be able to relocate closer to his family and continue the values established by the Steed’s. I have no doubt that he will continue to succeed and wish him a smooth transition back to Indiana!”
Financial terms of the deal were not disclosed.