by Brianna Crandall — July 16 , 2018 — Interface, a global commercial flooring company and a worldwide leader in sustainability, recently announced it has signed a definitive agreement to acquire performance flooring provider nora systems. The move will expand Interface’s resilient flooring portfolio and extend the company’s reach into the performance rubber flooring category, and is expected to accelerate growth.
Nora, a privately held company majority owned by investment firm Intermediate Capital Group (ICG), is a global provider of performance flooring and a worldwide share leader in the rubber flooring category.
Rubber flooring is considered ideal for applications that require hygienic, safe flooring with strong chemical resistance, and extremely durable compared to other flooring alternatives.
According to Interface, Nora is considered the leading premium brand of rubber flooring, and has built a specified selling organization that provides reach into approximately 80 countries around the world.
This acquisition will expand Interface’s rapidly growing resilient flooring portfolio and increase its penetration into high-growth segments including health care, life sciences, education and transportation.
Jay Gould, CEO of Interface, said:
We believe our value creation strategy is working in the marketplace as we better serve our customers with an expanded product portfolio and an enhanced selling system. Customers want a single flooring solution provider that can deliver a range of options that meet their requirements in different commercial applications. The nora acquisition is expected to accelerate our growth strategy by expanding our product portfolio and extending our reach in the performance flooring category of resilient flooring.
More importantly, we believe the nora team has put the right focus on design, sustainability, and performance of their products, which aligns with Interface’s brand, purpose, and values. We are excited to combine the nora team with the Interface family so that together we can continue to create value for our key stakeholders including our customers, employees, investors, and the environment.
Interface expects to close the transaction during the third quarter of 2018.
For more details on the acquisition, see the complete announcement on the Interface website, or for more information about Interface or nora systems product offerings, visit the companies’ respective websites.