WASHINGTON, May 19, 2021 /PRNewswire/ -- ACON Investments, L.L.C. and its affiliates ("ACON") announced today that ACON has completed a majority equity recapitalization of Diverzify+ ("Diverzify" or the "Company"). Following the transaction, the founders and management team will remain substantial equity holders in the Company. Financial terms of the transaction were not disclosed.
Diverzify, based in Itasca, Illinois, is a leading commercial flooring installation and related facility services provider with national reach, servicing 49 states from the Company's sixteen facilities. The Company serves a diverse array of customers in attractive end markets, including healthcare, education, multi-family, industrial and government.
"We are excited to partner with CEO Jordan Zmijewski and the Zmijewski family to assist Diverzify in its next phase of growth," said ACON Partner Mo Bawa. "We are attracted to Diverzify's market-leading position in the flooring and facility services sectors, customer-centric focus, innovative solution offering, and entrepreneurial operating culture led by a best-in-class management team. We see a highly scalable platform with significant opportunity for continued growth, both organically and through acquisitions."
"Diverzify is a highly-respected leader in a fragmented space that has leveraged its core flooring capabilities into higher growth facility services adjacencies to capitalize on macro trends around greater service outsourcing, aging infrastructure and health and safety regulations," added Ken Brotman, Founding Partner of ACON.
"Over more than 50 years, we have grown our business into an industry leader that operates nationwide, offering clients, who range from Fortune 100 to regional companies, a differentiated value proposition and a variety of services across substrate and facility types," said Diverzify CEO Jordan Zmijewski. "We believe this partnership plays to ACON's strengths and will allow us to take the next step in the growth and evolution of our business."
Formed over time through the combination of assets, operations, and resources of a number of commercial flooring industry leaders, Diverzify is an advanced-model vertically integrated commercial flooring resource to commercial facility management professionals worldwide. Through sixteen U.S. service locations with approximately 1,500 employees and service providers, the Diverzify enterprise blends traditional craftsmen service quality with advanced proprietary technologies to establish a new standard of service for the commercial flooring industry. Diverzify market service brands include Diverzify+, RD Weis Companies, Floors by Beckers, Lane's Floor Coverings, Collaborative Turnkey Solutions (CTS), Kenny Floor Covering LLC, CCS Floors, and Kiefer USA.
About ACON Investments
ACON Investments, L.L.C. is a Washington, DC-based international private equity investment firm that manages private equity funds and special purpose partnerships that make investments in the United States, Latin America and Europe. Founded in 1996, ACON has responsibility for managing approximately $6 billion of capital. ACON has professionals in Washington, DC, Los Angeles, Mexico City, Madrid, São Paulo and Bogotá. For more information, visit www.aconinvestments.com.
ACON Investments, L.L.C.
ACON Investments, L.L.C.
SOURCE ACON Investments, L.L.C.