Hilco investment Kraus to sell flooring distribution unit to QEP

QEP has agreed to acquire the hard surface and carpet tile distribution business of Canada’s Kraus Group of Cos, according to a news release. Terms weren’t disclosed. U.S.-based QEP said Kraus is seeking approval for the deal under the Companies Creditor’s Arrangement Act in Canada and the U.S. Bankruptcy Court. The transaction is expected to be completed next month. Kraus, a Waterloo, Ontario-based carpet and flooring maker and distributor, has been backed since 2012 by Hilco Capital, a U.K. private equity firm. Hilco acquired $130 million of Kraus debt and security from a syndicate of secured lenders.

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