Shaw Industries Group, Inc. (Shaw) announced on Thursday that it has completed the purchase of Tricycle, Inc., a technology innovator supporting the commercial interiors business.
The acquisition will enable Shaw’s commercial business to lead the industry in carpet sampling simulation and digital tools. Tricycle produces digital carpet samples for major floor covering manufacturers. Founded in 2002 in Chattanooga, the company helps commercial interiors manufacturers, interior designers and architects work more efficiently and produce less sample waste.
Tricycle’s award winning technology leads the industry in simulated carpet sampling, innovative digital tools, and the expertise to automate the manufacturing process. “Technology will continue to enable innovation in the flooring industry, and Shaw is committed to leading the way,” said Vance Bell, Shaw chairman and CEO. “This acquisition is just the beginning of what will be our company’s long-term investment in Tricycle’s people and technology.”
Tricycle will operate as a wholly owned subsidiary and operate independently, serving the commercial flooring industry. The team of 18 highly-talented associates will continue to be led by CEO Aern Hetem, from its headquarters in Chattanooga. Tricycle will continue to build on its innovation leadership as recognized with a range of honors from the first-ever Gold IDEA award in Eco-Design from Business Week magazine and the Industrial Designers Society of America to a Green Apple award for environmental best practices in Great Britain's Parliament.
“We are very excited to join Shaw, a company known for award-winning design, quality, service, innovation, and sustainability,” said Mr. Hetem. “These qualities align well with the Tricycle core values of innovation, quality, responsiveness, problem solving, and sustainability.”