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United Works

From a carpet company exploring strategic options to a leading artificial turf manufacturer

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Strategic Partnership
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Strategic Acquisitions
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Leading artificial turf manufacturer
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Introduction

O2 Capital Partners acquired Edel from the De Lange family in 2015. The company was a relatively small player in the competitive carpet market and used part of its available capacity for third-party production and contract work. Shortly after the acquisition, United Works’ artificial turf production was added to the company to build a targeted position in the rapidly growing artificial turf market.

 

Our Collaboration

Participation 2015–2021

2015

O2 Capital Partners Invests

Acquisition of Edel from the De
Lange family

Supervised the acquisition of the De Lange family business

2015

2015–2016

Artificial turf added

United Works operations incorporated into

Strategic reorientation toward the emerging artificial turf market; oversaw the acquisition and financing

2015–2016

Late 2016

Organization Split

(Contract) manufacturing + carpet sales at
are separate

Facilitated the organizational split; refocused efforts on core activities

Late 2016

2017–2021

Buy & Build Artificial Turf

Schramm (DE), Beens Grass Yarns
, B.V., Edel Grass, Royal Grass

Support for the buy-and-build strategy: Schramm, Beens Grass Yarns B.V., Edel Grass, and Royal Grass

2017–2021

2018

Condor Carpets Acquires Edel Tapijt

Focus on Artificial Turf

Carpet business sold to Condor; capital and focus freed up for artificial turf

2018

2021

Transfer to Victoria


, a fully vertically integrated company, is the European leader

Supervised the transition to Victoria; successful completion after nearly six years of collaboration

2021

In summary

At the end of 2016, the group was split into a (contract) manufacturing organization (United Works) and a carpet sales organization. Through several acquisitions , United Works grew into a leading European artificial turf specialist. The carpet sales organization was sold to Condor to raise capital and focus on artificial turf. After nearly six years of close involvement, O2 Capital Partners sold its stake to Victoria in 2021. The highly consolidating market made this the best option for United Works: the merger creates a fully vertically integrated European market leader in synthetic turf.

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