Caltius Structured Capital Provides Debt Financing to Virginia Tile Company
August 16, 2022
Los Angeles, CA, August 2022 – Caltius Structured Capital is pleased to announce the closing of a subordinated term loan with Michigan-based Virginia Tile Company, LLC, which is majority owned by Harren Equity Partners, a middle market private equity fund based in Charlottesville, VA. The financing will be used to support the continued growth and expansion of the Company.
Founded in 1928, Virginia Tile is a premier specialty distributor of ceramic, porcelain, and natural stone tile and related products to the professional commercial and residential markets. The Company offers a robust portfolio (45,000+ SKUs) of design-leading, higher-end tile and related products to customers through its network of 17 award-winning showrooms and 16 strategically located distribution centers throughout the Midwest. Further, the Company has long-standing exclusive agreements in its territories with 30+ of the largest tile manufacturers in the world, which comprise the majority of its sales. Virginia Tile also sells across the U.S. to its blue-chip national account customers and offers a suite of private label tile products.