What is the business? What is the history, et cetera, please?
Acquiring Minds
From Searcher to Sponsor: How to Buy a $22m Business
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Yep. So FloorGuard is composed really of two companies. So there's the main business, the manufacturing business, and FloorGuard manufactures epoxy and polyaspartic coatings for concrete floors. So those are the flake floors, the epoxy floors that you would see in garages, that you would see in factory floors.
We manufacture all of that, and we have a couple of different chemistries that we do. We also have another business, which is really the birth of the company, which is an installation business where we install those coatings, again, in garages, factory floors. One of our claims to fame is we actually did the floor in the United Center in Chicago way back when.
Yeah. So our founders were one of the first ones to do these coatings. They started 35 years ago, the installation part of the company. Before then, the founder was a carpet cleaner and was frustrated by the lack of money that he could make in carpet cleaning.
And so decided, hey, let me try to install these these concrete coatings and then built a very successful installation business. And then at some point got tired of all the, you know, in his words, the crap that you could buy from all the other companies out there. Sherwin-Williams and Home Depot didn't like the didn't like the coatings that were out there.
And so decided, hey, I'm going to make my own coating. I'm going to I'm going to figure out what goes into it. I'm going to source good quality ingredients, you know, and make it so that it was really user friendly because.
The problem with older coatings were that you basically got five or 10 minutes to work with them. You would mix the part A's and the part B's together. You'd have 10 minutes.
And so if you're imagining a big factory, you have to break it up into a lot of different sections and you don't have a whole lot of room to make mistakes. And the call to fame for FloorGuard was we call our product SlowGo. So it's a slow curing polyaspartic, which is the top coat and the slow curing set of epoxies. It gives you an hour of working time.
if you can imagine a breakthrough technologically that happened there from five to ten minutes of working time to 60 minutes of working time where you could you know instead of having four or five people on a job site you could have one person and that's what what our founder did he had one person go to all the job sites you know two people max it was a really big job site and uh and and that's…
then about 15 years ago um the um it was a husband and wife team so the wife at that point said hey we have a great product and a lot of people have asked to buy just our product so they started to sell the product and distribute the product across the us and that took off like game dusters so You know, right now, if the revenue in the EBITDA split is 95% manufacturing product distribution, 5%…
It was a unique product. There weren't a lot of slow-carrying products at the time. There's a bunch more now, but...
that's uh that's the history of the company so 35 years uh it's all you know manufactured here in the chicagoland area and uh and they've grown you know a really cool growth story from you know literally just you know a carpet cleaner to an installation company to installing some of the biggest floors in the in the chicago area to then you know being a major manufacturer
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