Stellus Capital Management provided senior debt financing and an equity co-investment in support of Mill Point Capital’s partnership with Cancos Tile Corporation, a regional distributor and retailer of luxury ceramic tile and natural stone.
Cancos is a regional distributor, seller and custom fabricator of high-end porcelain, stone, ceramic, glass and mosaic tile and accessories, headquartered in Farmingville, NY. The company has been in business for almost 70 years, with 12 showroom locations across New York and New Jersey which include more than 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 comprised of architectural and design, wholesale and retail consumers.
“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,” Michael Duran, founder and managing partner of Mill Point, said.
“Cancos is an exciting opportunity for Mill Point and a strong fit with our experience investing in distribution businesses,” Ben Rogers, vice president at Mill Point, said. “We are pleased to partner with Stellus on another transaction and appreciate their support and flexibility during the financing process.”
“We are excited about and appreciative of the opportunity to partner with Mill Point while having the ability to support Cancos as they continue to grow their distribution and sales platform,” Colin Baker, managing director at Stellus, said.
