Atlanta-based Interface Inc., a global flooring company, closed its previously announced acquisition of nora systems on August 7.
The transaction is valued at approximately $400 million.
nora, previously owned by Intermediate Capital Group, is known for its rubber floor options, which Interface said are ideal for settings that require hygienic, safe and durable flooring.
Interface will continue to offer rubber flooring under the nora® brand name.
“We expect the nora acquisition to accelerate our value creation strategy and drive positive results for all of our key stakeholders,” said Jay Gould, Interface CEO. “Together, we can deliver a wider range of options that meet our customers’ requirements in different commercial applications, helping Interface and our customers to win in the marketplace.”
The acquisition is anticipated to increase the company’s Adjusted EPS, a non-GAAP measure, $0.03 to $0.06 in 2018, and $0.15 to $0.20 in 2019.
