New York – March 1, 2023 – AEA Investors’ Middle Market Private Equity team announced today that its fund has closed the acquisition of TileBar. TileBar was founded in 2009 by Eli Mechlovitz as the first tile designer, supplier and marketer in the industry with a distinct brand identity and a customer-centric, digitally native approach. Since then, the Company has expanded rapidly with outsized share gains and is one of the fastest growing players in the industry. TileBar has a differentiated and disruptive omnichannel platform with best-in-class e-Commerce and digital capabilities, allowing the Company to win across its various direct-to-consumer and business-to-business channels. AEA believes the investment in TileBar represents an opportunity to partner with a visionary founder with a consistent track record of growth and success within the tile market, which is attractive, large, fragmented and early in its e-Commerce penetration curve relative to comparable home renovation products.
AEA Investors LP was founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA has an extraordinary global network built over many years which includes leading industrial families, business executives and leaders; many of whom invest with AEA as active individual investors and/or join its portfolio company boards or act in other advisory roles. Today, AEA’s approximately 110 investment professionals operate globally with offices in New York, Stamford, San Francisco, London, Munich and Shanghai. The firm manages funds that have approximately $18 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies, growth capital and mezzanine and senior debt investments.
TileBar is a digitally native, omnichannel designer, distributor and marketer of wall and floor tile, as well as natural stone and LVT, for residential and commercial applications in the United States. The Company operates in direct-to-consumer and business-to-business channels and continues to be run by its founder, Eli Mechlovitz. Founded in 2009, TileBar is headquartered in Inwood, NY and has approximately 575 employees.
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