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.”