The Tile Shop and JWC merger to close
The merger between The Tile Shop and JWC Acquisition is to close.
The merger between JWC Acquisition Corp, Tile Shop Holdings (TS Holdings) and The Tile Shop has come to a close.
JWC and The Tile Shop have now combined under the TS Holdings organisation, which was first incorporated in Delaware as part of the business negotiations and merger discussions.
Its common stock is now to be listed on the Nasdaq Global Market, in which it will have the ticker 'TTS'.
"We intend to not only continue our self-funded store growth across the country, but will also be better positioned to take advantage of the anticipated increased demand for our products," The Tile Shop and TS Holdings' chief executive officer and founder Robert Rucker declared.
He said the tie-up should enhance his firm's ability to follow positive expansion opportunities in a range of markets, helping it to develop a national presence.
A total of 82 per cent of JWC shareholders voted in favour of the merger.
Posted by Edel Quinn
Source: TS Holdings and JWC joint press release, August 22nd