US-based investment firm Sage Park has completed the acquisition of substantially all of the assets of Orian Rugs, Inc. Orian is an integrated domestic manufacturer of woven rugs as well as specialised yarn products which service multiple applications.

Orian operates in two primary segments: the design and manufacture of on-trend, high value woven rugs for national, specialty, and e-commerce retailers; and the complex manufacturing of specialised yarn products which support the commercial furniture, home, and automotive industries, according to a press release.

Sage Park has completed the acquisition of substantially all of the assets of American yarn product manufacturer Orian Rugs. Orian is an integrated domestic manufacturer of woven rugs as well as specialised yarn products which service multiple applications. Headquartered in South Carolina, Orian will continue to operate from its 730,000 square feet facility.

“For more than 43 years Orian built a successful American made brand using US and globally sourced components with a well-earned reputation among its loyal customers for designing and creating quality products,” said Sage Park chairman and CEO Robert Joubran. “We are committed to building on Orian’s rich heritage and investing in continued innovation.”

“We look forward to partnering with Orian’s management team to continue growing the comprehensive manufacturing capabilities Orian developed in both yarn and rug products, while enhancing our relationships with Orian’s customer base,” added Joubran.

Headquartered in Anderson, South Carolina, Orian will continue to operate from its 730,000 square feet facility, added the release.

“Orian has been a premier American manufacturer of decorative area and scatter rugs,” said Sage Park COO Thomas Stenglein. “Led by a management team of dedicated individuals, Orian retained the highest levels of control throughout the production process and established long-standing relationships with blue chip customers.”

“We are extremely excited to have completed this transaction with the Sage Park team as this process was extremely smooth and transparent,” said Chris Veit, with ABTV, strategic advisors to Orian. “Sage Park’s team is very experienced, operationally focused and, I’m confident that under Sage Park’s ownership, the rug and yarn business will continue to grow, and the products and services offered will expand to meet the needs of this diverse customer base.”

Fibre2Fashion News Desk (NB)