Balta announces agreement to acquire Bentley Mills (USA)
Balta welcomes Bentley Mills, its employees and customers into the Group. The iconic 'Bentley' brand in the premium commercial carpet segment has resulted in landmark projects such as the last nine presidential inaugurations and the New York Freedom Tower. Balta will continue to support the Bentley brand, and will make use of Bentley's sales force and market power to accelerate the growth of its European Modulyss® carpet tiles in the USA. Additionally, Bentley's line of premium carpet tiles will be sold worldwide through Balta's distribution.
As a result of the Bentley acquisition and the continued strength of Balta's and Bentley's performance in 2016, on a pro forma basis(1) , the combined entities achieved aggregate revenues of 668 Mio € and adjusted EBITDA(2) of 97.4 Mio €, with a margin of 14.6%(3) The group's revenue has a geographical balance with 42% in Continental Europe, 28% in North America, 22% in the UK & Ireland and 8% in the Rest of the World.
(1) Pro forma basis: combined, as if the Bentley acquisition had occurred at the beginning of the period
(2) Adjusted EBITDA refers to operating profit / (loss) adjusted for depreciation and amortization,
impairments and write-offs, results from acquisitions and disposals, gain from discontinued operations, legal costs and integration and restructuring expenses.
(3) All numbers preliminary and unaudited.
Balta is a leading manufacturer of textile floor coverings, selling to over 100 countries worldwide. The Balta divisions are Balta Rugs (woven area rugs), Balta Residential Carpets & Tiles (under the brands Balta and ITC), Balta Commercial Carpets & Tiles (under the brands Arc Edition & Modulyss), and Balta Non-Woven (under the brand Captiqs). Balta employs over 3200 people in 8 manufacturing sites; and in distribution centres in Belgium and the USA.
Bentley Mills, Inc. ("Bentley") is a leading provider of premium specified carpet tile and broadloom carpets for commercial interiors. Bentley is a leading player in the US premium commercial tiles and broadloom market serving diverse end markets with a balanced geographic mix across the US. Bentley has witnessed strong revenue growth over the last three years, complemented by EBITDA margin improvements driven by strategic repositioning, cost improvements and efficiencies and operational leverage.
For more information, please contact:
Balta Geert Vanden Bossche
Tel. +32 56 622316 email@example.com