VION Investments Participates in the Purchase of Armstrong Flooring Assets
Atlanta, GA – December 2022. VION Investments (VION) has partnered with Gordon Brothers in the purchase of a substantial portion of Armstrong Flooring Inc.’s assets. VION acquired Armstrong Flooring’s accounts receivable, and Gordon Brothers acquired real estate in Stillwater, Oklahoma and machinery and equipment in Stillwater and Jackson, Mississippi plants for resale.
The purchases allowed for the continued operation of four Armstrong Flooring facilities under the new ownership of AHF Products, a leading North American hard surface flooring manufacturer, saving approximately 600 American jobs.
“We worked with our partners to provide an immediate solution for the valuation, acquisition and disposition of receivable assets that did not fit with their overall strategic goals,” said Stacey Schacter, CEO of VION. “Our ability to move quickly and help them offer a total solution contributed to the final success of their purchase.”
“We stepped in during a pivotal moment and developed a holistic, strategic solution to facilitate the manufacturer’s transition to AHF Products saving jobs,” said Rob Gould, Managing Director, Commercial & Industrial at Gordon Brothers. “We provided an opportunity to ensure this legacy brand is in the right hands for growth going forward.”
AHF Products will continue operations at Armstrong’s former locations in Lancaster, PA, Kankakee, IL, and Beech Creek, PA. For more information on the sale of Armstrong Flooring’s assets, visit Gordon Brothers’ website: https://assets.gordonbrothers.com/assets-for-sale/assets/a/armstrong-assets.
About Gordon Brothers
Gordon Brothers, headquartered in Boston, Massachusetts, helps lenders, management teams, advisors, and investors move forward through change. The firm develops customized solutions on an integrated or standalone basis across four services areas: valuations, dispositions, financing, and investment. The firm has more than 30 offices across five continents. For more information about Gordon Brothers, please visit www.gordonbrothers.com.
Media Contact Information
Denis M. Concannon
ICON Advertising & Design, Inc.