Steve Cheney, owner Cheney Carpet and Vrooman Carpet, specialty flooring distributor based in Minneapolis, Minnesota, announced that a Letter of Intent has been signed with the E.J. Welch Company, a division of Center Rock Capital Partners’ Merit Distribution Group, based in St. Louis, Missouri, to acquire Cheney Carpet and Vrooman Carpet. The transaction is expected to close by end of this year.
“It has been a wonderful 50 years to be in such an exciting business, with so many truly great people," Cheney said. "I will miss the people the most, but after 50 years there comes a time to slow down. I feel very comfortable that E.J. Welch will do everything possible to carry on the Cheney and Vrooman traditions.”
Founded in 1969, Cheney opened Cheney, Inc., as a full-service floor covering business providing residential and commercial flooring. He later purchased Vrooman Carpet, Inc., in 1993 from its original owners to help augment Cheney’s product line with higher-end flooring products. Today, Cheney and his experienced management team sources products globally, offering the widest assortment of product offerings, well-appointed showrooms, and exceptional logistics support across six states, the company said.
“E.J. Welch has the potential to provide one-stop shopping and a wider assortment of quality flooring products and installation supplies to customers in this region,” said Roy Rueb, regional vice president of sales and operations. “We are excited to integrate our experienced team members to continue offering best in class service to our customers.”
E.J. Welch operates locations covering 18 states with more than 40 locations.
"We are excited to have the associates of Cheney Carpet and Vrooman Carpet join our organization to further solidify our growing position in the industry," said Kavita McCarthy, president, E.J. Welch. “They have a successful business and a very experienced team that will be a great fit with our company.”