Solid Care
COMPANY PROFILE:
Founded in 1996, Solid Surface Care (SOLID) is the nation’s only, wholly owned, coast-to-coast, multi-surface maintenance and restoration organization. Specializing in the cleaning and restoration of hard surfaces (natural stone, terrazzo, marble, concrete, metal, wood, etc.) and soft surfaces (carpet, fabric, leather, upholstery), for large corporate and commercial properties, SOLID employs certified skilled craftsmen using state-of-the-art tools and techniques that restore, preserve, and protect the value of their clients’ facility investments.
FIELDSTONE’S ROLE:
In 2017, with a vision of national presence, the owners of the predecessor company began looking at options to scale the company. Rather than follow the standard (and dilutive) “buy and build” path financed through private equity, Fieldstone helped guide the company through a carefully executed “Merge and Build” strategy that changed the entire trajectory of their business. In less than two years, Fieldstone helped SOLID merge six other companies into a parent holding company, frequently using holding company stock as a portion of the compensation. The owners of the merged companies, while collectively employed by SOLID Surface Care, continue to run their local/regional operations, just as they had prior to the merger. The new organization quickly doubled from $25 to over $50 million in revenue. And their business changed almost overnight.
TODAY:
Now with a national footprint – and with the ability to service corporate accounts from coast to coast – SOLID’s customer base has grown from local and regional accounts, to Fortune 500 companies with headquarters, regional offices, and facilities all over the country. Doors have opened to opportunities that did not exist prior to the merger. And the value of their now world-class organization has multiplied beyond what they could ever had achieved operating independently. Fieldstone has gone on to help the company secure mezzanine debt to enable additional growth. And Fieldstone continues to advise, source, and navigate further mergers and acquisitions as SOLID continues to realize its potential.
