Founding family sells Edel International
Carpet manufacturer Edel International, including its UK Edel Telenzo subsidiary, has been sold by its founding de Lange family.
The group has been bought by venture capital company O2 Capital Partners as part of its strategy that focuses on, among others, the manufacturing industry in the Netherlands. The purchase will see the group receive a capital injection to push its expansion plans.
‘The shareholders see a bright future for Edel International with O2 Capital Partners. To be able to grow, to realise our ambitions, this step was desired and as a company we are therefore very content with the acquisition. We will profit from its expertise and extensive network and are looking forward to a positive future, for our personnel, customers, suppliers and other partners,’ says Robbert Wapstra, Edel International md.
‘This is a positive transaction that will ensure much increased investment and support, to ensure that the group continues to grow profitably in the future,' adds Phil Hartley, Edel Telenzo UK md.
The deal marks the end of 97 years of family ownership under the de Lange family, which has run the company for four generations since its foundation in 1918.