NASHVILLE, TN / ACCESSWIRE / October 7, 2022 / Sage Park, a global, operations focused acquisition group, today announced it has completed the acquisition of substantially all of the assets of Orian Rugs, Inc. of Anderson, South Carolina ("Orian"). Orian is an integrated domestic manufacturer of woven rugs, as well as specialized yarn products which service multiple applications.
Orian operates in two primary segments: the design and manufacture of on-trend, high value woven rugs for national, specialty and e-commerce retailers; and the complex manufacturing of specialized yarn products which support the commercial furniture, home, and automotive industries.
"For more than 43 years Orian built a successful American made brand using U.S. and globally sourced components with a well-earned reputation among its loyal customers for designing and creating quality products," said Sage Park Chairman and CEO Robert Joubran. "We are committed to building on Orian's rich heritage and investing in continued innovation" Joubran continued; "We look forward to partnering with Orian's management team to continue growing the comprehensive manufacturing capabilities Orian developed in both yarn and rug products, while enhancing our relationships with Orian's customer base."
Headquartered in Anderson, South Carolina, Orian will continue to operate from its 730,000 sq. ft. facility.
"Orian has been a premier American manufacturer of decorative area and scatter rugs," says Sage Park COO Thomas Stenglein. "Led by a management team of dedicated individuals, Orian retained the highest levels of control throughout the production process and established long-standing relationships with blue chip customers."
"We are extremely excited to have completed this transaction with the Sage Park team as this process was extremely smooth and transparent." said Chris Veit, with ABTV, strategic advisors to Orian. "Sage Park's team is very experienced, operationally focused and, I'm confident that under Sage Park's ownership, the rug and yarn business will continue to grow, and the products and services offered will expand to meet the needs of this diverse customer base."
For more information on Orian, visit www.orianrugs.com and for information on Sage Park, visit www.sagepark.com
Stout Capital Markets served as financial advisors to Orian in the transaction. Terms of the transaction are not being disclosed.
About Sage Park
Sage Park is an acquisition group focused on operational excellence and is renowned for the value creation we deliver for our businesses. We invest tremendous time and energy to facilitate operational improvements, business strategies, direction, and growth. By aligning acquisition expertise with operational proficiency, we create additional value through acquisitions of corporate and private divestitures.
About Orian
Orian is a creative and innovative leader in the textile floor-covering industry. Strategically located in Anderson, South Carolina since 1979, the Company manufactures decorative area and scatter rugs. Operating out of its state-of-the-art facility, Orian also manufactures its own color batches and extrusion of polypropylene yarn for weaving, finishing, packaging, and distribution. The Company is committed to building a better America by creating high quality rugs and yarns manufactured in the USA using U.S. and globally sourced components.
Contact:
Max Mansour
615-637-8035
[email protected]
SOURCE: Sage Park