What is Brief History of QEP Company?

QEP Bundle

Get Full Bundle:

	BCG	$15	$10
	5 FORCES	$15	$10
	CANVAS	$15	$10
	4P's MIX	$15	$10
	PESTLE	$15	$10
	SWOT	$15	$10

TOTAL:

ADD TO CART

What is the history of QEP Co., Inc.?

Founded in 1979, QEP Co., Inc. emerged as a key player in flooring installation solutions, offering a wide array of tools and adhesives. Its establishment coincided with the growth of the home improvement sector and the DIY trend, enabling swift expansion to serve both professionals and consumers.

Initially focusing on tile installation tools, the company, originally named Q.E.P. for 'Quality Electronic Products', shifted its direction under founder Lewis Gould. A bathtub edging kit marked its entry into home improvement products, with headquarters later moving to Boca Raton, Florida, in the 1980s.

What is the history of QEP Co., Inc.?

Established in 1979, QEP Co., Inc. quickly became a significant global provider in the flooring installation solutions industry. The company specializes in designing, manufacturing, and distributing a vast range of flooring tools, adhesives, and related items. This timing aligned perfectly with the burgeoning home improvement industry and the rise of the do-it-yourself (DIY) movement, allowing QEP to rapidly expand its reach and cater to both professional installers and individual consumers. The company's journey began with a focus on tile installation tools, though its original name, Q.E.P., initially stood for 'Quality Electronic Products' when founder Lewis Gould explored electronics. However, the company soon pivoted its focus to home improvement products, launching with a bathtub edging kit. Later, in the 1980s, the company relocated its headquarters to Boca Raton, Florida. Today, QEP holds a dominant market position, recognized as the number one tile tool brand globally. It continues to strengthen its market leadership by offering a comprehensive portfolio of over 8,000 products under various well-respected brand names, including innovative solutions like the QEP BCG Matrix. This evolution from a nascent distributor to a worldwide industry leader showcases a history of strategic growth and adaptation.

The QEP company history began in 1979 when Lewis Gould established the business. Gould, with prior experience in the wire and cable industry, initially aimed to distribute electronics but found his niche in the burgeoning home improvement sector, specifically in tile tools.

The Founding Story of QEP

QEP Co., Inc. was founded in 1979 by Lewis Gould, who transitioned from the electronics and wire industry. His initial foray into the home improvement market was with a bathtub edging kit, which proved to be the gateway into the tile tool industry.

• Lewis Gould founded QEP Co., Inc. in 1979.
• The company's initial focus was on electronics distribution.
• A bathtub edging kit was QEP's first product in the home improvement sector.
• Early support from Home Depot's founder was instrumental in QEP's growth.

A pivotal moment in the QEP company's origins involved a significant order from Home Depot. When the retailer needed QEP to scale up production, Lewis Gould faced financial challenges. Bernie Marcus, a founder of Home Depot, provided crucial assistance by helping QEP secure a loan, which enabled the company to acquire the necessary working capital to meet the increasing demand for flooring products. This early partnership and financial backing were vital for the QEP company's establishment and subsequent development, laying the groundwork for its future expansion and impact on the tiling industry. Understanding these early milestones provides insight into the Mission, Vision & Core Values of QEP.

QEP SWOT Analysis

• Complete SWOT Breakdown
• Fully Customizable
• Editable in Excel & Word
• Professional Formatting
• Investor-Ready Format

GET TEMPLATE ➔

The early growth of the company was significantly shaped by strategic alliances and key acquisitions. These moves were instrumental in establishing its market presence and expanding its operational capabilities.

Foundational Partnerships

In 1981, a crucial partnership was formed with Home Depot, which became a cornerstone for the company's expansion. This was further bolstered by adding Lowe's as a major customer in 1993, which rapidly grew to become the second-largest account.

Public Offering and Strategic Acquisition

The company went public in 1996 under the ticker symbol QEPC, facilitating access to capital for further development. A year later, the acquisition of Roberts Consolidated Industries, Inc. for $12.35 million significantly enhanced its product line in carpet tools and adhesives.

Global Expansion and Manufacturing Enhancement

Global reach expanded in 1999 with acquisitions in Australia and New Zealand, followed by European expansion into England and France in 2004. Manufacturing capabilities were strengthened with the acquisition of an adhesive facility in Dalton, Georgia, and an office in China was established in 2005.

Diversification into Flooring

The company broadened its product portfolio in 2010 by acquiring the assets of Arborcraft, LLC, also known as Harris Wood, marking a significant entry into the flooring industry. This period of growth is detailed further in the Brief History of QEP.

QEP PESTLE Analysis

• Covers All 6 PESTLE Categories
• No Research Needed – Save Hours of Work
• Built by Experts, Trusted by Consultants
• Instant Download, Ready to Use
• 100% Editable, Fully Customizable

GET TEMPLATE ➔

The QEP company history is marked by strategic branding, product innovation, and significant operational adjustments. Key moments include a brand identity update in 2009 and a new logo in 2012, reflecting its growing global presence. The company has consistently focused on product development, earning accolades for its tools. A significant strategic pivot began in fiscal year 2024, involving a 'portfolio transformation' to streamline operations and concentrate resources on its core North American business.

QEP has consistently demonstrated innovation in its product offerings, with notable examples like the QEP 900XT Pro Tile Saw winning a prestigious award. More recently, the TileTrim Square® was recognized with the 2024 Top Flooring Product Award, underscoring a continued commitment to developing high-quality tools. The launch of a new B2B e-commerce website in January 2023 also highlights efforts to improve customer interaction and streamline business processes.

Brand Evolution

In 2009, QEP updated its corporate identity to clearly distinguish the company from its product brands. This was followed by the introduction of a new QEP Brand Logo in 2012, reflecting its expanding global reach and market presence.

Product Excellence Recognition

The company's dedication to product innovation was recognized when the QEP 900XT Pro Tile Saw earned the Surfaces 2014 Best New Product Award. Further testament to this is the 2024 Top Flooring Product Award for the TileTrim Square®.

Enhanced Customer Engagement

To better serve its business partners, QEP launched a new B2B e-commerce website in January 2023. This initiative aims to improve the overall customer experience and facilitate smoother transactions.

Domestic Manufacturing Expansion

In July 2025, QEP completed the unveiling of a new ROBERTS® adhesive manufacturing plant in Dalton, Georgia. This significant investment doubled the company's adhesive production capacity, allowing for 18,000 gallons per single shift.

QEP has navigated a challenging macroeconomic environment, marked by softening consumer demand in home improvement due to elevated interest rates and inflation. The company also underwent significant divestitures as part of a portfolio transformation strategy. Despite a decline in net sales, QEP managed to improve its gross profit and gross margin through cost-reduction initiatives and a better product mix.

Portfolio Transformation

In fiscal year 2024, QEP initiated a strategic 'portfolio transformation'. This involved divesting its Harris Flooring Group in North America for approximately $10 million in September 2023 and selling its international operations in March 2024 for AUD 14.05 million.

Macroeconomic Headwinds

The company faced challenges from a difficult economic climate, including continued softening of consumer demand in the home improvement sector. Factors such as elevated interest rates, inflationary pressures, and general economic uncertainty impacted sales performance.

Operational Efficiency Improvements

Despite a decrease in net sales, QEP demonstrated resilience by improving its gross profit and gross margin. This was achieved through strategic cost-reduction initiatives, a more favorable product mix, and a reduction in inbound freight costs, showcasing effective operational management.

QEP Business Model Canvas

• Complete 9-Block Business Model Canvas
• Effortlessly Communicate Your Business Strategy
• Investor-Ready BMC Format
• 100% Editable and Customizable
• Clear and Structured Layout

GET TEMPLATE ➔

The QEP company history traces a path of consistent growth and strategic expansion since its inception. Founded in 1979 by Lewis Gould, the company initially focused on distributing a bathtub edging kit, marking the QEP origins. Early milestones include securing Home Depot as a key customer in 1981 and Lowe's in 1993, solidifying its retail presence. The QEP background is further defined by its public offering on NASDAQ in 1996 under the symbol QEPC, signaling a new phase of development. Subsequent years saw significant acquisitions, including Roberts Consolidated Industries in 1997, which bolstered its flooring installation product lines, and international ventures beginning in 1999 with expansion into Australia and New Zealand, followed by Europe in 2004. The company's manufacturing capabilities grew with the acquisition of an adhesive facility in Dalton, GA, in 2005, the same year it established an office in China. A notable step in its QEP evolution was entering the flooring industry in 2010 through the purchase of Harris Wood assets. Further diversification occurred with the acquisitions of Homelux and Plasplugs in 2013. More recently, the company has undergone strategic portfolio adjustments, completing the sale of certain Harris Flooring Group assets and its UK operations in September 2023, and its Australia and New Zealand business in March 2024. These moves reflect a focused approach on its core North American operations, aligning with its Competitors Landscape of QEP.

Focus on Core North American Business

Following strategic divestitures, the company is concentrating on its primary North American operations. This focus aims to streamline efforts and enhance market penetration within this key region.

Investment in Regional Sales and Manufacturing

Future plans include continued investment in expanding regional sales coverage to access new and existing sales channels. There is also a commitment to bolstering domestic manufacturing capabilities.

Product Innovation and Customer Focus

The company emphasizes continuous investment in product innovation to maintain product leadership. This strategy is underpinned by an unwavering commitment to serving the professional market.

Long-Term Growth Strategy

QEP's strategic initiatives are designed to deliver value through operational excellence and adaptability to market conditions. These efforts are rooted in the founding vision of providing high-quality flooring installation solutions.

QEP Porter's Five Forces Analysis

• Covers All 5 Competitive Forces in Detail
• Structured for Consultants, Students, and Founders
• 100% Editable in Microsoft Word & Excel
• Instant Digital Download – Use Immediately
• Compatible with Mac & PC – Fully Unlocked

GET TEMPLATE ➔