Peter and Annie Mathisen of Minneapolis have made a significant capital investment in Rubble Tile. Financial terms of the agreement were not disclosed.

Under the agreement, current CEO and President Lila Tully retains equal ownership in the company and will continue in her current role. The Mathisens will join the Rubble Tile team of 15 employees in its new St. Louis Park-based showroom and warehousing operations as partners with a focus on finance and marketing.

Rubble Tile recently moved into a new, centrally located 3,200-square-foot showroom at 7003 W. Lake St., Suite 150, in St. Louis Park, Minn., with an adjacent warehouse. The new showroom offers an inspiring and comfortable space for designers, architects and homeowners to browse through a unique selection of both classic styles and fashion-oriented tile.

Founded in 1929, the company has been under Tully family ownership since 1991. Today, Rubble Tile is the largest woman-owned business selling ceramic tile and stone in Minnesota and surrounding states.

“This significant capital investment will provide the fuel to help us grow our business, particularly around the fashion end of the tile business,” said Tully, a 20-year veteran of the tile trade and former Target fashion merchandiser. “This is a tremendous plus for us as we refocus and rebuild our operations following a significant recession in the housing and building industry. And the timing is great because we are seeing a resurgence in the industry.”

“We are very pleased to be making this investment in Rubble Tile, and we believe strongly in its bright future,” said Peter Mathisen, who brings a background in education and finance to the company.

With its brand new showroom, Rubble Tile is carving out a niche in the tile business by becoming more fashion forward, offering unique products, including those made by local tile artists. “We focus on unique tiles – items you won’t find anywhere else – and we will open our showroom to community events geared to the intersection of tile and fashion.

“Our point of view is clear: tile is fashion for your home,” Tully said. “But just like with fashion-focused clothing, one size or style does not fit all. At Rubble, we like to say, ‘Your style, our tile.’”