Palamon buys The Rug Company in SBO

The Rug Company's founders, Christopher and Suzanne Sharp, will continue to hold a stake, while Piper has sold its entire minority stake. Financial details were not disclosed.

Piper had been invested in the company since 2008. The GP stated that during its investment period, The Rug Company opened four new stores in North America, two in Europe and several new franchises worldwide, and increased its revenues from £11m to £23m.

The acquisition marks Palamon's second investment in a luxury retailer this year. In June, it acquired Italian leather goods brand Il Bisonte.

Company
Founded in 1997 and based in London, The Rug Company sells high-end hand-made rugs. The company has 10 showrooms as well as international franchises and concessions. The company stated it generates annual sales of £23m.

People
Pascal Noth is a partner at Palamon. Christopher Sharp is founder and CEO of The Rug Company. Christopher Curry is managing partner at Piper.

Advisors
Equity – Houlihan Lokey (Corporate finance); PwC (Financial due diligence); Slaughter and May (Legal); Kurt Salmon (Commercial & operational due diligence).
Seller – PwC (Corporate finance); Pinsent Masons (Legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• UK / Ireland
• Buyouts
• Consumer
• Germany
• Palamon Capital Partners