Lone Star to Buy Balta from Doughty after Nearly 11-year Hold

Lone Star Funds has agreed to buy carpet and rug manufacturer Balta Group from Doughty Hanson. Expected to close at the end of the August, the deal will reportedly generate a 1.5x return for the seller. Founded in 1964, Balta reported sales of €520 million and EBITDA of €64.9 million last year, the latter representing a 20% YoY increase. Doughty bought the company in August 2004 and owns a 70% stake with limited partner co-investors; the firm is currently managing out its portfolio and not pursuing new fundraising efforts.

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