Rasa Floors Strategically Expands Footprint to the East Coast, Acquiring Martin Greenbaum Company
Briarcliff Manor, NY – June 27, 2023. Saw Mill Capital Partners II, LP and affiliated private equity investment funds managed by Saw Mill Capital LLC (collectively referred to herein as “Saw Mill”) are pleased to announce the acquisition of Martin Greenbaum Company, Inc. (“MGC”, or the “Company”) by Rasa Floors (“Rasa”), a Saw Mill portfolio company.
Headquartered in Baltimore, Maryland, MGC is a leading provider of multi-family flooring installation services. The Company specializes in high-touch, multi-family tenant turnover work, operating via seven locations and serving customers in eleven states in the Northeast and Mid-Atlantic regions. MGC and Rasa are operationally and commercially a strategic fit, serving the same customer base with a focus on quality, reliability, and customer care. The combined company now serves two-thirds of the largest U.S. metropolitan markets.
“The acquisition with MGC moves us closer to our vision to be the leading flooring services partner to property management companies nationwide,” said Brad Rasa, President of Rasa Floors. “Our growth is rooted in a commitment to raise the bar on service quality. This acquisition extends our market reach and strengthens our capability to introduce service innovations to our customers.”
Travis Foltz, a Principal at Saw Mill, remarked, “The acquisition of MGC provides immediate scale, access to highly strategic, population dense markets, and cross-selling opportunities with existing Rasa customers in new markets. We are confident that MGC’s established track record and highly regarded reputation in the market will further bolster the Rasa platform and serve as a catalyst in executing its vision to be a best-in-class partner to property management companies nationwide. Rasa’s reach continues to grow, and we are excited about the prospects for continued expansion.”
Saw Mill is committed to helping its portfolio companies achieve their full growth potential, both organically and through strategic acquisitions. All of Saw Mill’s unrealized Fund II and Fund III portfolio investments, including Rasa, are actively seeking acquisitions.
ABOUT RASA FLOORS
Founded in 1994 and headquartered in Carrolton, TX, Rasa Floors is a leading flooring installation provider serving both repair and renovation and new construction applications, with a focus on the multi-family market. The Company offers a full suite of flooring solutions to multi-family property managers and property management companies, which require regular flooring replacement and upgrade services when an apartment unit turns over. Rasa delivers quick-turn fulfillment services spanning 19 branches across the Southern and Eastern United States. For more information, please visit www.rasafloors.com.
ABOUT SAW MILL CAPITAL
Saw Mill Capital is a private equity firm that partners with founders and management teams of successful, entrepreneurial business services, specialty distribution and manufactured products businesses with enterprise values up to $200 million. Leveraging our dedicated investment research team and curated operational approach, we invest aggressively in our portfolio companies to accelerate growth and build market-leading businesses. Saw Mill has been helping leadership teams grow entrepreneurial companies since 1997. For more information, visit www.sawmillcapital.com.