Shaw Industries Group, Inc., a subsidiary of Berkshire Hathaway, announced today the completion of the acquisition of Sportexe Construction Services, Inc.
Shaw Industries acquires Sportexe
Shaw Industries Group, Inc., a subsidiary of Berkshire Hathaway, announced today the completion of the acquisition of Sportexe Construction Services, Inc., a leading synthetic turf company dedicated to sports surfacing. With an impressive list of high profile field installations, Sportexe is one of the premier synthetic turf companies in North America. Sportexe has demonstrated industry leadership in both quality and innovation for more than two decades. During that time, Sportexe has provided fields to organizations such as the New York Jets, San Francisco 49ers, Baltimore Ravens, New Orleans Saints, Buffalo Bills, University of Pittsburgh, LSU, University of California, University of Arkansas and many others. Sportexe is also the exclusive or official turf system supplier for The Arena Football League (AFL/AF2), National Lacrosse League (NLL) and the Major Indoor Soccer League (MISL). In commenting on the transaction Vance Bell, Chief Executive Officer of Shaw Industries Group, Inc., stated, “We are very pleased to have Sportexe joining Shaw Industries. The turf market offers exciting opportunities for us. We intend to be a fully integrated producer from manufacturing through installation. With the combined strengths of these two companies, we look forward to accelerated growth in the synthetic turf market.” Mr. Bell continued, “We plan to continue to remain at the forefront of addressing industry needs by constantly evolving the products and services we provide. One of these issues will be developing a sustainable business model for the synthetic turf market. We will apply to turf those core principles which define our industry leading position in sustainability.” Stephen P. Noe, President and CEO of Sportexe Construction Services, Inc., commented further, “Joining Shaw will give Sportexe the financial support and resources needed to boost the company to the next playing level. The combined strength of the two companies will allow Sportexe to continue delivering great service to its clients both before the sale, during the installation and throughout the ownership experience. It will also ensure we give athletes the best platform on which to play their game.” The acquisition will bring together Shaw’s current TerraSport™ sports turf and TerraSoft™ recreational surfaces’ brands, sold under the Spectra Sports Surfaces division, with Sportexe’s current product offering. In the following weeks, the company will begin executing the planned integration of the two companies’ operations, networks and customer care organizations to ensure a smooth transition and immediate value for customers, partners and employees. About Shaw Shaw Industries Group, Inc., a subsidiary of Berkshire Hathaway, Inc., is the world’s largest carpet manufacturer and a leading floor covering provider with more than $5 billion in annual sales and approximately 26,000 associates. Headquartered in Dalton, Ga., the company manufactures and distributes carpeting, rugs, hardwood, laminate and ceramic tile for residential and commercial applications worldwide. A recognized leader in environmental stewardship, Shaw has implemented hundreds of sustainability initiatives and cradle to cradle design solutions, collectively termed the Shaw Green Edge. For more information, visit www.shawfloors.com.