Key highlights
- Seeks bolt-on acquisitions in textiles
- Currently in four due-diligence processes
- New target roughly 3× the size of Tessutica
GH Private Equity (GH), a UK-based family office, aims to build a EUR 200m textiles platform over the next three to five years, co-founder and CEO Russell Goldman told Mergermarket.
The company’s acquisition in November 2025 of the EUR 17m upholstery business of Beaulieu International Group (BIG), operating under the Tessutica brand, provides access to manufacturing facilities in Romania and a skilled but underutilised workforce, Goldman said.
GH is looking for bolt-on acquisitions in textiles and is currently in due diligence on a European textiles firm about three times the size of Tessutica. The firm aims to conclude that acquisition by April, he said.
Once Tessutica is combined with the new target to create a EUR 60m company, GH plans to recruit a CEO to run the combined entity.
Rather than competing with lower-cost producers in China and India, GH’s buy-and-build strategy focuses on high-end textiles, where margins are higher.
Tessutica was GH’s first transaction and fits the firm’s strategy of acquiring distressed assets and special situations, Goldman said. GH particularly targets non-core divisions being divested by large multinational companies, where speed and deal certainty are important.
Tessutica was a non-core, underperforming division that BIG decided to sell because it did not fit strategically with its broader portfolio. The unit produces upholstery fabrics for indoor and outdoor furniture.
The opportunity was introduced to GH by Deloitte Belgium, which had the sell-side mandate. GH was able to complete the transaction quickly after negotiations with another buyer collapsed. The deal closed within three months, though GH says it can typically complete transactions in around 30 days or less.
The firm expects to complete the current European textiles acquisition and then pursue two additional deals this year, bringing the total to three. Potential targets could have revenues ranging from EUR 20m to EUR 500m.
GH invests the capital of its founders and plans to deploy around EUR 100m over the next two to three years for acquisitions.
Goldman said the firm continues to see significant distressed opportunities, particularly in Germany, where many Mittelstand manufacturers in sectors such as industrial manufacturing, metals and automotive have been affected by high energy costs, labour costs and rising interest rates.
GH is also evaluating a large European chemicals business with about EUR 500m in revenue, which is currently loss-making due to high energy and fixed costs. The conglomerate that owns it is considering a divestment.
Such assets often come with environmental liabilities, which can make them candidates for disposal and align with GH’s focus on distressed and special situations, Goldman said.
Goldman previously served as head of global acquisitions for a major US private equity firm, focusing on special situations and acquisitions of non-core corporate assets across Europe and the US.
GH receives around six M&A opportunities per week from advisers and is currently conducting due diligence on four of them, including the European textiles target. The firm sources deals through its network of M&A boutiques, law firms, and Big Four advisory firms, often accessing opportunities before they reach a formal auction process.
GH Private Equity was co-founded by Russell Goldman and Efroyim Hecht, a founder of Minexco Group, which develops natural resource concessions in West Africa and South America. Hecht also has interests in alternative finance, real estate, aviation, infrastructure and agriculture.
The firm is headquartered in London with affiliated offices in Dubai and Abu Dhabi.
Founded last year, GH currently has eight employees and plans to add four to six more over the next 12 month