MMP Capital Partners acquires Florida Tile
MMP Capital Partners L.P., an affiliate of the Washington, D.C.-based Milestone Merchant Partners L.L.C., has purchased Florida Tile Industries Inc. from Illinois Tool Works Inc.
Matthew Galvez, a managing director of Milestone, was named president and CEO of Florida Tile, while Scott Fullerton was named chief operating officer. Most recently, Fullerton has been the president of AMF Reece Inc., a multinational manufacturing company, headquartered in Richmond, Va., with overseas manufacturing and sales in more than 80 countries.
The new executive team plans to work closely with the existing Florida Tile management team to maintain and expand the company's position in the industry.