Sandberg Capital Acquired Majority Stake in Slovak Furniture Designer Phase

02. 02. 2023

Sandberg Capital, a Slovak private equity company, is expanding deeper into the retail sector. It has recently acquired a 70% stake in the largest Slovak and Czech designer and seller of seating products, Phase. The aim of the newly formed partnership is to expand the product portfolio as well as the number of retail stores.

Phase was founded in 2007 by a 20-year-old Martin Duras. who has been involved in the world of furniture ever since his childhood. Originally, Martin intended to secure customers for his father’s seating furniture. Today, Phase is the leader in the Slovak and Czech markets in the design and sale of middle and high-end seating furniture. It covers product design, marketing, and sales, and secures production from several local manufacturers. Phase, besides its own products, also distributes a luxury Italian sofas Natuzzi Editions.

The company has 26 retail stores and thanks to its diligent analysis of current trends and the focus on customer service, Phase is one of the most popular seating furniture brands in the Slovak and Czech markets. The company has over 50 employees, with revenues exceeding 18 million EUR in 2021. Founder Martin Duras retains a 30% stake and remains in the company’s leadership.

Sandberg’s strategy is to invest in promising Slovak and Czech companies and to support founders or managers who have built successful businesses. Considering the regional success of Phase, we see enormous potential for expanding the product portfolio and retail stores. Martin Duras built a stable company from scratch, that is now a leader in the domestic and Czech markets. We believe that the partnership with Sandberg will strengthen Phase’s position on the existing as well as the new markets,” said Michal Rybovic, Partner at Sandberg Capital.

The purchase of a stake in Phase is Sandberg’s second investment in the retail sector. In 2016, Sandberg acquired Terno, making the retail sector one of its five core investment pillars. Terno went through a strict restructuring process and today is one of the most popular supermarket chains in Slovakia.

When deciding whether to bring an investor on board, I knew it had to be someone who truly understands our business,” says Martin Duras, Founder of Phase. “Every entrepreneur eventually reaches a point where they need a reliable partner for further growth. Sandberg convinced us due to their expertise with the SMEs and their know-how in the retail sector. We believe that together we will be able to continue the expansion not only of our network of stores, but also of our product portfolio. We are looking forward to offering our customers not just sofas but the products for their holistic comfort,” added Duras.

Sandberg invested in Phase from its second EUR130m fund launched in 2021. The first four investments included the Slovak IT outsourcing company TITANS Freelancers, the Czech provider of cloud solutions for customer communication Daktela, the Hungarian programming bootcamp GreenFox Academy, and the Serbian IT nearshoring company Quantox Technology.

The Fund benefits from the support of the European Union under the Equity Facility for Growth established under Regulation (EU) No 1287/2013 of the European Parliament and the Council establishing a Programme for the Competitiveness of Enterprises and small and medium enterprises (COSME) (2014-2020). In addition, the Fund also benefits from the backing of the Central Europe Fund of Funds, an initiative created by the European Investment Fund with the support of the EIB and the IIB together with the governments and national agencies of Slovakia, the Czech Republic, Austria, Hungary and Slovenia.

From the heart of Europe
to the whole world

CONTACT US