Belknap-Haines’ acquisition of Houston-based STC (formerly Swiff-Train) expands the territory of the industry’s top-ranked distributor well beyond its East Coast roots. Moreover, with the STC purchase, Belknap-Haines’ 2022 sales are projected to be $700 million.
“This transaction is another example of the Mancini family investing for the long term in the flooring distribution business,” said Paul Castagliuolo, president of Belknap-Haines, Mansfield, Mass.
The acquisition, which closed Oct. 17, adds Texas and the Gulf Coast region to an already sprawling territory that currently includes Maine to Miami, Ohio, Indiana and Kentucky. STC services Texas, Oklahoma, Louisiana, Colorado, Arkansas, Mississippi and Florida, as well as several distribution facilities located throughout Texas. The company primarily sells private-label product, which Belknap-Haines plans to grow, while adding other branded products to the STC portfolio. Shane Calloway, president of STC, told FCNews STC “will continue to run as it has been,” and Belknap-Haines is “providing the necessary resources that will enable us to grow.”
STC will operate as a separate division within Belknap-Haines with its current executive and management teams in place.
Ray Mancini Jr., Belknap-Haines CEO, said that as the distributor continues to grow, its focus remains the same—to provide the best service and products to its entire customer base. “Our goal is to be the best flooring distributor in the US as measured by our customers and vendor partners,” he explained.
Belknap’s acquisition of STC, a top 20 distributor in 2021, is the second major acquisition the company has made in recent years. In March 2022, Belknap White Group (BWG) became the sole shareholder of JJ Haines and renamed the company Belknap-Haines. Previously, BWG made two investment rounds in Haines—in 2017 and in 2019, becoming majority stakeholder following the second tranche.