The Rug Company as refinanced its bank borrowings and secured additional funding for acquisitions.
The company, which has been majority owned by Palamon Capital since 2015, has secured a loan from Tresmares Capital, which is says will accelerate its international expansion plans.
‘We are very pleased to have found a strong partner in Tresmares to support The Rug Company as it continues to build out its leadership in contemporary handmade rugs, serving the design community and high-end spaces across the globe. Tresmares is an experienced lender in the space, and acted flexibly and creatively to match the financing needs of the company,’ says Ia Bergman, Palamon Capital associate partner.
Phil Arbour, CEO of Tresmares UK said “The Rug Company has continued to grow in spite of otherwise challenging market conditions and we are pleased to be backing Palamon in the next chapter of its ownership of the company.”
‘As one of the leaders within the global luxury rug market, The Rug Company represents a fantastic opportunity to support its continued international expansion and growth. The company has made great strides over the last five plus years in expanding its customer base, growing average order values and increasing repeat spend by its customers,’ says Miguel Sanchez, Tresmares Capital investment director.
