Los Angeles-based Pacific Avenue Capital Partners Completes Acquisition of Flooring Business from H.B. Fuller Co.

Pacific Avenue Capital Partners, a Los Angeles-based private equity firm, completed its acquisition of the North American flooring business from H.B. Fuller Co. in a deal valued at $80 million. It now operates the flooring business as TEC Specialty Products. The company is headquartered in Aurora, Illinois, and has six manufacturing facilities and three warehouses across the country.

“We look forward to investing the necessary resources and collaborating with the management team to support TEC’s continued growth and success in this industry,” said Chris Sznewajs, founder and managing partner of Pacific Avenue Capital Partners, in a statement.

Pacific Avenue was advised by Chemlink Partners as financial advisor and O’Melveny & Myers as legal advisor. Pacific Avenue has more than $1.9 billion in assets under management as of Sept. 30, 2024.