Mill Point Capital Investment Supports the Continued Success and Performance of Cancos Tile & Stone
Cancos Tile Corporation (“Cancos”, or the “Company”), a leading regional distributor and retailer of luxury ceramic tile and natural stone, announced that it has partnered
with Mill Point Capital LLC (“Mill Point Capital”), a middle-market private equity firm focused on control-oriented investments in the business services, industrials and IT services sectors in North America.
Cancos imports and distributes high-end porcelain, stone, ceramic, glass, mosaic tile and slabs, serving both residential and commercial repair and remodel markets. The Company’s showrooms feature a diverse selection in over 1,200 completely designed and decorated vignettes used in multiple areas of the home, including floors, walls, countertops, decking, fireplace surrounds, among other applications. For the last 70 years, the Company has cultivated strong relationships with some of the finest and most respected suppliers in Europe. Throughout its history, the Company has maintained its headquarters in Farmingville, NY.
Mill Point employs an Executive Partner model and has extensive experience investing in distribution businesses. Cancos’s talented management team, including members of the Valva family, will continue to lead the Company and build upon its strong track record of growth and quality customer service. Members of the Valva family will also invest alongside Mill Point in the go-forward platform.
Robert Valva, member of the Board, commented, “I am extremely proud of the company we have created over the past several decades. The partnership with Mill Point secures the resources necessary to continue our long-term growth trajectory, and we are beyond excited for the Company’s next chapter.”
“The Valva family has built a terrific platform in Cancos. We’re excited to partner with the entire Cancos team, and to continue growing the Company’s leading distribution and sales platform,” added Bruce Zwicker, Mill Point Executive Partner and Executive Vice Chairman of the Board.
“Over its 70-year operating history, Cancos has built a reputation for excellence. We remain committed to maintaining the core values that have been instilled by the Valva family, while looking forward to pursuing the numerous growth opportunities in front of the business today,” said Michael Duran, Founder and Managing Partner of Mill Point.
About Cancos Tile Corporation
Cancos is a leading regional distributor, seller and custom fabricator of high-end porcelain, stone, ceramic, glass and mosaic tile and accessories headquartered in Farmingville, New York. The Company has been in business for almost 70 years, with 12 facilities/showrooms across Long Island, Manhattan and New Jersey which include over 500,000 square feet of warehouse capacity. Cancos also distributes tile throughout the east coast and southeastern United States, selling to a diverse customer base comprising A&D, wholesale and retail consumers. For more information, please visit www.cancostileandstone.com.
About Mill Point Capital LLC
Mill Point Capital LLC is a private equity firm focused on control investments in lower-middle market companies in North America across the business services, IT services and industrials sectors in North America. Mill Point’s experienced team of investors and Executive Partners seek portfolio company value enhancement through rigorous implementation of transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.