EDEL CARPETS SOLD TO CONDOR GROUP
Value Enhancement Partners and O2 Capital Partners
Edel Group, a leading company in the field of carpet and artificial grass contracting, has sold its high-quality wool and polyamide carpeting activities to Condor Group. The sale concerns 100% of the shares of Edel Carpets, including the subsidiary Telenzo Carpets in the United Kingdom, as well as Edel Group’s extrusion and carpet yarn finishing activities.
Edel Carpets, founded in 1918 and headquartered in Genemuiden (NL), designs, manufactures and sells high-quality carpets and rugs made of predominantly wool and polyamide. The products are sold under own brands (Edel and Telenzo) and private label in the United Kingdom, Germany, Switzerland and Austria (DACH), the Benelux and various other countries worldwide. Edel Group, owned by O2 Capital Partners and Value Enhancement Partners, will focus primarily on its core activities after the transaction: the development and production of synthetic turf yarns, tufting and products to be coated by its customers.
Condor Group is one of the largest carpet manufacturers in Europe with a production of more than 115 million m² of textile floor covering per year. Both Edel and Telenzo have a good reputation in the market and are a valuable addition to the existing range of products offered by Condor Group. The transaction leads to more scale and to a more favourable competitive position. Edel Carpets can benefit from the knowledge, network and scale that exist within Condor Group and enhance its prospects.