NEWS INDUSTRY UPDATE
Argand Partners Acquires Brintons Carpets Limited From The Carlyle Group
Global alternative asset manager The Carlyle Group (NASDAQ: CG) has announced the sale of Brintons Carpets Limited to funds managed by Argand Partners LP.
Brintons is a global manufacturer of specialist woven carpets for residential and commercial premises. Since September 2011 when Carlyle made its investment in Brintons, the company has transformed its performance and is now a major player within the global Axminster carpeting market.
Equity for the transaction came from Carlyle Strategic Partners II and III, Special Situations and Corporate Opportunities Funds, which are part of Carlyle’s global credit platform.
Argand has partnered with Brintons’ senior management team to acquire 100% of Brintons from The Carlyle Group for an undisclosed sum. Argand Partners is a middle-market private equity firm based in New York and San Francisco, specialising in growth- oriented control investments into global market leading companies within the industrial sector.
A Royal Departure For Scs
Long-serving ScS Director Kevin Royal has confirmed he will be departing the business during 2018, after more than 35 years of service.
Kevin has played an instrumental role in the development of the business and its transformation from a four store family-owned North East business, to a nationwide sofa and flooring specialist and listed plc with a sales turnover of over £400million.
Kevin’s journey to the ScS boardroom has included managing many of the group's flagship stores before being appointed Regional Manager in 1997, and being further promoted to Sales Director in 1999. He was a member of the plc board for a number of years, when the group first listed on the London Stock Exchange, and more
08 | Tomorrow’s Retail Floors
Headquartered in Kidderminster, UK, Brintons posted record earnings in 2016 and was acknowledged earlier this year in the Sunday Times Profit Track 100, ranking the company as one of Britain’s private companies with the fastest growing profits over the last three years. Forecasts for the financial year, ending September 2017, are set to meet or further exceed previous results.
Commenting on the acquisition, Tariq Osman, Partner and Managing Director at Argand Partners, said: “We were attracted by Brintons’ leading market position within the global luxury carpet market.
“Brintons has a long history of selling award-winning carpet that utilises the highest quality British wool and their own proprietary manufacturing technology, making it uniquely capable of meeting demand for custom-designed, durable and upscale flooring at a competitive price and within tight delivery timelines. To find such qualities in an iconic brand like Brintons was rare.
“Supported by our investment and growth strategies, we look forward to partnering with the Brintons’ management team to build an even stronger business in the future.”
recently in 2016 was named as the group’s Managing Director.
Kevin will step away from the ScS business in early 2018 and will oversee the handover process in the coming months.
Kevin said: “14 months ago, I began putting together a succession plan to help future-proof the retail senior management team of the ScS business, and this is now in place. Therefore, the time is right for me to start to hand over the reins to them, and I will do this over the coming months.
“I wish to thank everyone for their support over many years and I look forward to hopefully watching the business grow from strength to strength.”
David Knight, ScS CEO, said: “Kevin has played a key role in building the business and developing the team. He
is a great role model and a naturally gifted retailer. On behalf of the entire business, I would like to thank Kevin for his contribution and wish him well for the future.”
www.scs.co.uk www.tomorrowsretailfloors.com
Ian Jackson, Managing Director and Co- Head of Carlyle Strategic Partners Funds at The Carlyle Group, said: “Brintons has been a solid investment for us, performing strongly over the last five years in a competitive global market. We have invested significantly in product innovation, opening new international markets and building a global talented leadership team who continue to deliver outstanding results and growth in both revenues and market share.”
Duccio Baldi, Chief Executive Officer at Brintons, added: “The transformation Brintons has undertaken has been impressive thanks to the efforts of our global team. We now look ahead to this exciting new chapter, continuing Brintons’ tradition of high quality manufacturing, and working with Argand to build the brand further.”
www.carlyle.com www.brintons.net www.argandequity.com
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50
