Carmel Firm Acquires Shower Product Manufacturer
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A Carmel-based private equity firm is adding to its portfolio. Mayfar Capital Partners has acquired Tile Redi Holdings LLC, a Charlotte-based manufacturer of shower products that also operates manufacturing and fulfillment centers in Elkhart.
Tile Readi makes shower pans, doors, shelves and other products for large-scale developers, professional contractors and do-it-yourself homeowners.
“We have a tremendous opportunity to expand our reach in all channels given the current skilled labor and supply chain constrained market,” Tile Readi Chief Executive Officer Sean Boes said in a news release. “We believe Mayfair Capital Partners will be excellent collaborators in achieving our vision of making every shower installation easy and leak-free.”
Financial terms of the deal were not disclosed.
Mayfair did not specify if any jobs would be affected by the deal. However, Tile Readi says it plans to invest about $5 million in the Elkhart facility and create 40 jobs by the end of 2024.
Mayfair Capital Partners was formed in July 2021 as a subsidiary of Oxford Financial Group Ltd., which operates in many locations including Indianapolis. Mayfair also has a location in Minneapolis.