The London office of Debevoise & Plimpton LLP is advising the management of Balta Group on the acquisition by Lone Star Funds of a controlling stake in the company from Doughty Hanson. The transaction is expected to close at the end of August.

Balta Group is Europe’s leading carpet and rug manufacturer, with 3,300 employees across eight production sites worldwide. Balta reported sales of €520 million in 2014.

Doughty Hanson owned a 70% stake in the company with limited partner co-investors. The founding family and management holds the balance.

Lone Star is a leading private equity firm that invests globally in real estate, equity, credit and other financial assets. Since the establishment of its first fund in 1995, Lone Star has organized fifteen private equity funds with aggregate capital commitments totaling approximately $60 billion.

The Debevoise team advising the management of Balta is led by London partner David Innes, assisted by associate Kenneth J. Barry.

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. The firm’s commercially savvy lawyers regularly lead strategic transactions and complex disputes for world-class clients.