July 5, 2017
Argand Partners Announces the Acquisition of Brintons Carpets
Argand Partners (“Argand”), the New York and San Francisco-based private equity firm, today announced its acquisition of Brintons Carpets Limited (“Brintons”). Terms of the transaction were not disclosed.
Founded in 1783, Brintons is a leading global manufacturer of luxury woven carpets for commercial and residential premises. Headquartered in Kidderminster, UK, the Company has established itself as the premier brand within the Axminster carpet category and is widely recognized for its cutting-edge manufacturing technology, renowned internal design team and prestigious history of carpeting high-profile projects, such as the White House, the Moscow Kremlin, Buckingham Palace and the Venetian hotel and casino in Las Vegas. Brintons boasts a legacy of leading the luxury carpet space, having pioneered the 80-20 wool to nylon yarn blend, which is now the industry’s standard. The Company’s patented High Definition (HD) Weave technology offers customers unparalleled design flexibility and drives operational improvements. Brintons operates five manufacturing facilities in the UK, Europe and India and holds a Royal Warrant of Appointment from the Queen of England. Argand plans to work closely with Brintons management to support the Company through the next phase of its development including seeking to accelerate growth in its largest market, the US.
Duccio Baldi, Brintons’ Chief Executive Officer, said, “The transformation that Brintons has undertaken over recent years 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. As CEO, I look forward to working with the Argand team, as we continue to invest and expand from the successful platform we have built.”
Tariq Osman, Partner and Managing Director at Argand Partners, added, “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 utilizes 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.”
The acquisition is supported by a loan facility provided by incumbent lenders HSBC Bank, Allied Irish Bank and Clydesdale Bank. Winston & Strawn LLP acted as legal counsel to Argand.
About Argand Partners
Argand is a New York and San Francisco-based middle market buyout firm founded in 2015 by long-time colleagues, Heather Faust, Howard D. Morgan and Tariq Osman. Argand is a value-oriented, control investor focused on complex, often contrarian, situations that involve solid, market-leading industrial businesses, often with significant global operations and expansion opportunities.
The Argand team has a disciplined approach of investing in businesses that have the potential for transformational value creation through the implementation of managerial, operating and strategic initiatives. Argand focuses on investments into industrial manufacturers and service providers, where the team has deep sector experience and can leverage its senior executive advisory network to drive the rapid execution of an investment thesis. Further information on Argand can be found on the website: www.argandequity.com.