News & Recent Events
Mike’s Flooring Companies (MFC), a rapidly growing company providing flooring solutions for multifamily, commercial and residential properties from Miami to Maine, announced today that it had closed a new credit facility and realigned certain leadership positions. This action followed a record year for the company in 2017 with revenue growth in all customer categories and geographic areas. MFC operates in six of the top 10 multifamily housing markets, as determined by a study released last Fall by FEI Multifamily.
MFC completed in February 2018 the refinancing of its short-term and long-term credit facilities with Beltway Capital Management, LLC. “We are pleased to have Beltway Capital as our strategic financial partner, and believe we are able to turn more of our executive attention to our customers’ requirements,” said Mike Schreiber, MFC COO. “ We appreciate the patience and support of our long-term supplier partners, who have been with us since we started MFC 30-years ago,” he added.
After several years of growth, MFC will continue to pursue growth in its current markets while strengthening and standardizing its business process execution across all locations. An equal priority is to strengthen and deepen relationships with customers who operate in more than one of MFC’s geographic locations. To that end, the Company announced that Mike Schreiber is taking the newly created position of Chief Operating Officer to work more closely with branch office leaders and field employees. Mike will be able to spend more face time with customer executives, and assist the MFC branches to operate as ‘One Company’ in executing its internal business processes. Complementing this change, Leslie Schreiber will take the newly created position of Chief Administration Officer. Leslie’s team includes all field support activities including installer scheduling, compliance, billing, credit approval, purchasing, and vendor payables. The company has made strides in recent years to more centrally manage the functions, and will benefit from bringing the related functions under Leslie’s capable leadership.
Bart Snell was appointed MFC President and CFO, to coordinate activities across the company as well as directly manage the HQ functions of Finance, Treasury, IT, HR, and external partner relationships. Mike Schreiber, Chairman of the MFC Board of Directors, said ”,Bart has been with us since late 2013, and he has consistently provided that ‘next-level’ leadership advice and counsel we needed. We are excited with the changes announced today, as we believe we are now structured for continued growth with improved business process effectiveness and financial health.”
MFC is celebrating its 30th anniversary in 2018, and is a privately-held company operating in the following states along the Atlantic seaboard: Florida, Georgia, North Carolina, Virginia, District of Columbia, Maryland, New Jersey, New York, Connecticut, Rhode Island, Massachusetts, and Maine. The company provides all flooring surface solutions to retail, commercial, new construction multifamily, and property management customers. Headquartered in Chantilly, Virginia, the company has nine locations serving customer in each market, and whenever possible applies technology to reduce defects and reduce costs. 360Vision Software (previously Advanced Floorings FloorPro product line), an enterprise resource planning (ERP) software solution designed for the flooring industry, will deliver a major new version in early 2018.
Mike’s Flooring has some big and ‘new’ building projects underway, up and down the state of Florida. In Orlando, Tampa, and Ft Lauderdale we have finished or are finishing up our New Construction projects at some of the latest and greatest Hotels and Apartment buildings. We couldn’t be more please with the results!
Take a look:
Mike’s Flooring Companies came in #34 out of #50 for Top U.S. Specialty Flooring Retailers of 2016.
To read more visit: FCW May 9th, 2017 Edition
JPMorgan Chase provided financing for Pearl Dadeland, the eight-story, 412-unit luxury building.
Miami—Morgan has started leasing Pearl Dadeland, an eight-story, 412-unit luxury apartment building in Miami, which it developed with its joint venture partner Invesco.
Construction financing was provided by JPMorgan Chase.
“Morgan’s Pearl properties represent some of the most luxurious apartment communities on the market today,” Evan Schlecker, Morgan’s regional vice president, said. “Pearl Dadeland is no exception, offering an array of lifestyle enhancing amenities with a contemporary Miami aesthetic. Morgan always strives to build communities that deliver on the Pearl brand’s premium promise, while also capturing the essence of the surrounding neighborhood. We believe Pearl Dadeland does just that.”
To read the rest of the article visit here.
MFC is a proud and active member of the MultiFamily Solutions division of the FEI Group. MultiFamily Solutions is a network of the country’s largest and finest multi-family flooring contractors. Each year the FEI Group holds a National Conference so all of the members can get the latest and greatest information on a variety of categories amongst other things. This year it was held at the Chesapeake Bay in MD. It was a wonderful conference and we look forward to it next year!
To learn more about MultiFamily Solutions visit, here.
The gang at the Crab Feast: