SAUGATUCK CAPITAL COMPANY ANNOUNCES INVESTMENT IN LUNADA BAY CORP.
Shelton, CT – July 18, 2019 – Saugatuck Capital Company (“Saugatuck”) is pleased to announce its investment in Lunada Bay Corp. (“Lunada Bay” or the “Company”) which does business under the Lunada Bay Tile, Murrine Mosaics and Accents in Tile brand names. Headquartered in Harbor City, California, Lunada Bay creates handcrafted glass, ceramic and concrete tiles for the remodeling and architectural and design markets. Saugatuck provided a majority of the equity capital through its investment vehicle Saugatuck Capital Company X, LLC which now owns Lunada Bay alongside current management. Graycliff Partners provided the debt financing along with senior lender Webster Bank.
Founded in 1982, Saugatuck Capital Company is a long-established private investment firm committed to leveraged recapitalizations and buyouts and growth equity investments in the lower, middle market. Sourcing investment opportunities through its well-established network, Saugatuck invests in service-intensive businesses demonstrating a proven ability to generate stable, growing cash flows where it has the requisite experience to drive accelerated portfolio company performance. For over three decades, the Firm has been dedicated to the philosophy of hands-on value creation in which exceptional management teams, in partnership with Saugatuck’s capital and expertise, build companies of outstanding value.
Lunada Bay is one of the largest national designers and suppliers of high-end decorative tile. Since its inception in 2000, the Company has established a well-known and recognized brand name within the industry and among its high-end showroom distribution channels. The Company manufactures glass, ceramic and concrete tiles with an emphasis on simplicity, texture and color. Its design staff uses specialized manufacturing techniques in concert with its suppliers that create effects unlike any other source in the industry to develop products that resonate with, and inspire, the way people want to live.
Lunada Bay Tile represents Saugatuck’s second investment related to the tile industry. Prior to its recent investment in Lunada Bay, Saugatuck, along with other investors, acquired Floor & Decor Holdings, Inc. (“Floor & Decor”) in 2003. At the time of Saugatuck’s original investment, Floor & Decor had only two stores. When Saugatuck fully exited the investment in 2010, Floor & Decor operated 25 super-stores in nine states and has since, under new ownership, grown to be one of the largest specialty retailers of hard surface flooring in the country.
For further information regarding Saugatuck and its investments, please visit www.saugatuckcapital.com.