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Today, Interface, Inc. (Nasdaq: IFSIA) announced that it has completed the previously announced transaction to sell its Bentley Prince Street subsidiary to President Anthony Minite, key members of the company’s management team and Dominus Capital, L.P., a private equity investment firm. Bentley Prince Street customers can expect to see more of the prominent style and performance they have come to value, as well as more product diversity.
According to Minite, “Our loyal customers can be confident that we are not changing who we are, in fact we are going to deliver even more of the products Bentley Prince Street has always been known for. As the rest of the marketplace competes for low cost positioning we will be focused on quality and style designed to outperform in all market segments.”
The company has already taken steps to further invest in new product development and expand its broadloom, carpet tile and area rug business in International markets. The company’s sustainability programs will continue to evolve with a relaunch this coming year, including its highly regarded carbon offset and carpet reclamation programs.
Bentley Prince Street manufactures its award-winning broadloom, carpet tile and area rug products in its Los Angeles-based mill, which is certified Silver LEED for Existing Buildings by the USGBC. As a truly California Company, Bentley Prince Street will bring jobs and revenue back into the state.
Senator Dr. Ed Hernandez, O.D. commented: “Bentley Prince Street is making all the right moves to strengthen their company and keep it moving forward. One of these moves includes making California their home base, where we have the workforce and infrastructure crucial to any successful business. I am glad to see that Bentley Prince Street will continue creating jobs here in California, jobs that will keep our state moving forward as well.”
The company will continue to take a leadership role in its commitment to sustainability, including being the first manufacturer in California, and one of only three companies in the state, selected to Pilot ISO 50001 by the Department of Energy. Most recently, Bentley Prince Street hosted an alternative transportation week, where over 70% of associates participated, in order to earn enough points to upgrade its LEED-EB certification from Silver to Gold.