Private equity firm New Stream Capital, based in Ridgefield, Conn., has purchased the assets of International Wholesale Tile, a supplier of porcelain, ceramic, and stone tile products. Plans call for top management, including Paul Boucher, president; Kathryn Spencer, vp operations; and Ann Marie Renze, CFO, to stay with the company. Terms of the deal were not disclosed.

Boucher noted that the acquisition helps position his company, widely known for its Tesoro brand, for future growth. “With New Stream Capital’s strength and support, we’ll be positioned to better serve our customers with swift deliveries of orders and samples and overall superior customer service,” he said. “We will continue to create products that can be marketed through a variety of channels.”

IWT supplies its products to retailers, design centers and specialty tile shops across the country. At its main distribution center in Palm City, Fla., IWT houses more than 10 million sq. ft. of inventory from top manufacturers in Italy, Spain, Brazil, and Turkey.

Matthew S. Galvez, managing director of New Stream, said he looks forward to “building up” the company. “IWT is known for selling the highest quality tile to independent dealers and stocking distributors,” he added.