Litorina IV acquires a majority of the shares in CarpetVista, a world leading online retailer within carpets. CarpetVista offers a wide range of more than 35,000 unique carpets, ranging from machine-made to exclusive handmade carpets. The wide assortment combined with first class customer service and efficient logistics has resulted in satisfied customers all over the world. The founders of the company, Hossein Sadr and Ludvig Friberger will retain a significant ownership together with Litorina.
CarpetVista was founded in Malmö 2005 by Hossein Sadr and Ludvig Friberger and has since then grown to a business with more than SEK 200 million in annual sales. The company has so far focused its marketing efforts in Europe and current important markets are Germany, France, the Netherlands and the Nordics. The products are sold through own online stores serving customers in 18 different languages. CarpetVista designs and develops the products in-house and the majority of its products and sourcing are made in Turkey, India, Pakistan and Iran through own local sourcing organisations. The business is run from the head office in Malmö where the entire value chain is present from sourcing, product development, marketing, web development, customer service, central warehousing to logistics.
As a step to further support the growth of the company, the board will be strengthened with Nils Vinberg as chairman, Jesper Kärrbrink and John Womack as experts within online and ESG respectively, as well as representatives from Litorina.
”The cooperation with Litorina gives us the opportunity to further focus on the things we are passionate about which is to continue to develop the company and attract even more customers” says Ludvig Friberger, co-owner and CEO, CarpetVista.
”Litorina has a clear track record of building strong organisations and take companies to the next level” says Hossein Sadr, co-owner and business developer, CarpetVista. ”We look forward to a fruitful collaboration with Litorina”.
”CarpetVista has established a strong position in the international market for online carpet retailing. We are impressed by the company’s ability to combine strong organic growth together with good profitability” says Paul Steene, Partner, Litorina Capital Advisors, advisor to Litorina IV. ”We are very happy that Hossein and Ludvig have chosen Litorina as their partner in the continued development of CarpetVista”.
For further information, please contact:
Paul Steene, +46 8 545 181 88, Partner, Litorina Capital Advisors
Ludvig Friberger, +46 733 16 74 12, CEO, CarpetVista
Hossein Sadr, +46 708 19 01 90, CarpetVista
CarpetVista, founded 2005, is the leading online retailer within carpets. The company has its head office and central warehouse in Malmö and offers Europe’s largest assortment of unique handmade and machine made carpets. CarpetVista sells its carpets internationally to markets such as Germany, France, the Netherlands and the Nordics through its own online stores. For more information, please visit www.carpetvista.se.
Litorina, founded in 1998, focuses on acquiring and industrially developing companies together with their management teams. Litorina offers broad and deep expertise both via its own organization and through its network of industrial advisors. Litorina Capital Advisors AB serves as an investment advisor for Litorina’s funds. For more information, please visit www.litorina.se.