The Dixie Group Acquires Atlas Carpet Mills

Friday, March 14, 2014

The Dixie Group, Inc. on Friday announced its agreement to acquire Atlas Carpet Mills, a high-end manufacturer and marketer of commercial floorcovering products located in Los Angeles.

As outlined in its agreement, closing of the acquisition is scheduled for Wednesday. In commenting on the agreement, Daniel K. Frierson, Dixie’s chairman and CEO said, “We are very pleased to announce our agreement to acquire Atlas. Dixie and Atlas have had a long relationship that goes back over 40 years. Jim Horwich, founder of Atlas, will remain with us as president of Atlas reporting to Kennedy Frierson, Dixie’s chief operating officer. Mark Nestler, executive vice president and Scott Price, vice president of Manufacturing will continue in their respective leadership roles at Atlas.

Kennedy Frierson said, “Atlas has a very strong sales force and excellent brand equity in the market place, which should maximize our opportunities for growth. This strong market position has been created by the superior design and styling of their product offerings.” Mr. Frierson further commented, “Following our acquisition, the Saybrook tufting, coating, inspection and shipping operations of Atlas will continue normal operations. In addition, there will be no change to the administrative, product development and sales functions of the company. However, over the next several weeks, Atlas’ dyeing operations will be consolidated into Dixie’s Susan Street facility located in Santa Ana, California. Many of the associates who now work in the Atlas dye facility will transfer to the expanded Santa Ana dyeing operations.

"Atlas had sales of approximately $53 million in 2013, having offerings in both broadloom and modular carpet tile. They have demonstrated superior management, with profitable operations every year of the company’s 44 year history. Although Atlas will operate as a separate brand within the Dixie portfolio, we believe there are significant synergies from the consolidation of the two dye houses and utilization of other Dixie assets."

The acquisition of Atlas will be an all cash transaction and will involve retaining the top three officers under five year contracts. The seller was represented in the transaction by Greenberg Glusker Fields Claman & Machtinger LLP and the buyer by Miller & Martin PLLC.



Staymobile Grows Tennessee Market With New Chattanooga Location

 Staymobile's new Tennessee location is at 5724 Highway 153 in Hixson. Staymobile is a mobile device repair service, warranty and accessories company for businesses, schools and consumers. "With our key market expansion, this new store in Tennessee was strategically selected based upon deep consumer insights and enhanced market data," said Brian Hutto, CEO of Staymobile. ... (click for more)

Public Works Employees Celebrated With Breakfast Hosted By Mayor Rowland And Other City Officials

In celebration of National Public Works Week, Mayor Tom Rowland, Councilman David May, City Manager Joe Fivas and Assistant City Manager Melinda Carroll recognized the "extraordinary endeavors" of the Public Works Department by hosting a breakfast for public works employees.  “This week we commend the men and women we rely on every day to celebrate their important contributions ... (click for more)

State Seeking 1st-Degree Murder Conviction Against Donaldson For Killing Son-In-Law

The state is seeking a first-degree murder conviction against 57-year-old Glen Allen Donaldson for killed his son-in-law. Prosecutor Crystle Carrion told a jury in the courtroom of Judge Don Poole on Tuesday that there was no evidence that self-defense was involved in the slaying of Adam Levi, who was 39. However,attorney Jerry Summers said Donaldson said in a 911 call that ... (click for more)

City Budget Uses $36 Million From Various Reserve Funds

Daisy Madison, the city's chief financial officer, said the upcoming city budget uses $36 million from various reserve funds, including $11 million from the city's rainy day fund. The budget last year pulled $10 million from the rainy day fund. Ms. Madison told City Council members at a budget hearing she did not know exactly how much is remaining in the rainy day fund without ... (click for more)

Liberal Conspiracy Afoot

According to Roy Exum’s Sunday column, there are now upwards of six or seven Democrats in Hamilton County, and all of them have secretly maneuvered their way onto the boards of a couple of dozen local organizations. Unlike Republicans, some of them serve on multiple boards and some of them serve with one another on the same boards. This is outrageous. We all know that boards and ... (click for more)

Roy Exum: Please Don’t Get Numb

Several weeks ago we woke up to learn there had been another shooting in Chattanooga and the next day there were two paragraphs on the fourth page of the newspaper.  It has become so common we as a society have grown numb to it and, when a teen-aged girl in Texas said she wasn’t surprised last week when eight students and two teachers were massacred in her school some 30 miles ... (click for more)