Sherpa buys Portuguese carpet maker Ferreira de Sa

The founding family will retain a minority stake and continue to lead the company.

This is the first direct investment by a Sherpa fund made outside of Spain. To finance this deal, Sherpa deployed capital from its third fund, which closed on €150m in May 2018, exceeding its €125m target. The vehicle invests in small and medium-sized Spanish and Portuguese companies with EBITDA of €1-5m, and deploys equity tickets in the €5-25m range.

With the GP's support, the company plans to consolidate its market position in the European luxury carpets sector and further expand internationally. In addition, Sherpa intends to implement a buy-and-build strategy with additional bolt-ons aimed at building an aggregation platform within the carpet production sector.

Company
Founded in 1946 and headquartered in Espinho, Ferreira de Sa specialises in manufacturing tailor-made carpets and rugs for the luxury furniture and interior design sector. It generates revenues of around €20m, of which 80% comes from outside Portugal.

People
Sherpa Capital – Lars Becker (partner).
Ferreira de Sa – Fernanda Barbosa (CEO).

Advisers
Company – EY (corporate finance); CS Asociados (legal).
Equity – Deloitte (corporate finance); Cuatrecasas (legal).

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• Topics
• Buyouts
• Southern Europe
• Consumer
• Portugal
• Spain
• EY (Ernst & Young)
• Deloitte