Thu, 12 Nov 2015 | BUSINESS SALE
Founders of The Rug Company have completed a multi-million pound sale of a majority stake in their company to private equity firm Palamon Capital Partners.
The Notting-Hill based company, which was launched by husband and wife team Christopher and Suzanne Sharp in 1997, has gained a strong presence in the UK and the US, and built a celebrity client list including George Osborne and Cameron Diaz.
British-born fashion designers Paul Smith, Vivienne Westwood and Alexander McQueen have all previously designed for the company, which has seen sales grow from £11 million to £23 million since 2008.
Each of the firm's rugs are handmade in Nepal using traditional knotting techniques, taking an average of four months to make with contributions from 20 people.
The Rug Company has been sold by Mr and Mrs Sharp and Piper Private Equity, which purchased a minority stake in the business in 2008, to Palamon Capital Partners.
According to Pascal Noth, partner of Palamon, the buyout house was particularly attracted to the high level of craftsmenship involved, which protects the company from competition from rival businesses.
Although the firm is already the largest luxury rug company, Palamon has revealed that it intends to grow the business into the US and Germany.
"With consumers increasingly seeking hand-crafted quality products with heritage we see fantastic potential in scaling the business from the strong base established by Christopher and Suzanne, into a truly global company,” Mr Noth said.
Find a business for sale
The company provides UK-wide distribution solutions, specialising in Hiab hire and transporting cargo that requires ADR certification. The business utilises its proficient drivers and fleet to effectively collect and distribute goods of all sizes, in...
This is a unique opportunity to acquire a well-established scaffolding supply business in Scotland, offering comprehensive services and working with blue-chip clients across various industries.
This reputable company is a leading supplier and installer of commercial flooring and hygienic wall cladding, known for its strong relationships and premier installer status with a market-leading manufacturer. With a broad range of installation solut...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.