Armstrong World Industries Inc. has announced it has acquired Turf Design Inc., a Chicago-based commercial interiors design house and maker of custom felt ceiling and wall solutions with annual revenues of approximately $25 million.
The acquisition strengthens AWI’s design and manufacturing capabilities and broadens its portfolio of architectural specialties ceiling and wall solutions, according to a news release from Armstrong.
Turf operates an 8,000-square-foot innovation center and design showroom in downtown Chicago, together with a 75,000-square-foot fabrication facility in Elgin, Illinois, where it makes a range of custom-specified felt ceilings and wall products for a variety of applications.
Turf’s felt products are made primarily of polyethylene terephthalate — recycled plastic found in water or soda bottles. Turf felt contains up to 60% recycled content, and it’s 100% recyclable at end of life.
Turf will continue to operate from its current facilities and retain its company name, brands and organizational and go-to-market structures. The Turf independent representative network will remain intact and complement AWI’s current go-to-market selling model.
AWI funded the acquisition with available cash and its revolving credit facility. Financial terms of the transaction were not disclosed.
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July 28, 2020 at 08:22PM
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