COS is the undisputed market leader in the office fit-out solutions space in Romania. It was the first local company to provide fully integrated “design & build” services and has continuously developed its range of services, having a proven track record of successful delivery of large-scale projects for blue-chip clients (such as Microsoft, Google, Amazon, UiPath, ING, KPMG, Accenture, Nestlé). Since its founding in January 1998, the company has grown to become the leading specialist in Integrated Design and Build solutions for interior spaces, including workplace consultancy, conceptual and architectural/mechanical and electrical design, supply and installation of furniture, floorings, light fixtures and interior partitions, as well as turnkey interiors construction fit-out covering all architectural and M&E parts.
During its 24 years of activity, the company has delivered professional services and top-quality products to more than 2,300 clients that needed to create or transform their workspaces, in more than 17,000 successful projects. COS holds the sole local authorized dealership of Steelcase (worldwide leader in the office furniture industry, who first awarded the company the coveted Platinum status in 2016) and is also the representative of Interface (worldwide leader in modular carpet industry), in addition to other reputable brands. The company operates from local offices in Bucharest, Cluj-Napoca, Timisoara and Iasi.
COS aims to enhance its business model further under the new shareholding structure, by actively focusing on ESG and Corporate Social Responsibility initiatives, expanding to new sectors (such as private healthcare, private education and hospitality) and geographies, both organically and through strategic acquisitions.
“After 24 years in Romania, COS needed a change to keep stretching its market coverage, geographically and in new business segments, and accelerate its growth by reaching new heights. By partnering with the SARMIS team and benefiting from its focus and know-how in supporting entrepreneurial companies, we are developing an ambitious and creative business model that will sustain COS leadership position for many years ahead.”, said Christophe Weller, CEO and founder of COS.
“From our very first discussions with Mr. Weller, it was obvious that SARMIS and COS share the same values and objectives: the highest standards of work, services and product quality, efficiency and maximization of potential, leadership in one’s field and a committed interest in sustainability. Partnering was therefore a natural, logical outcome. We look forward to strengthening the market leader with our proven consolidation capabilities, financial backing and expertise, as well as supporting its development on a regional scale.”, said Cezar Scarlat, Managing Partner and co-founder of SARMIS Capital.
“Our investment in COS is just the first of many aimed at supporting local entrepreneurs and their interesting business projects. We see a lot of potential in various market sectors and are excited to support the local ecosystem grow”, added SARMIS representatives.
For this transaction, SARMIS was advised by Radu Taracila Padurari Retevoescu SCA (RTPR) (legal and transactional) and PwC Romania (financial, tax and commercial), while COS’s legal advisor was Ariana Lața from Lața & Associates.
SARMIS Capital is a leading independent private equity fund manager established in 2019, focused on mid-market opportunities in Central and Eastern Europe. It is the largest private equity fund raised in, and dedicated to investing primarily in, Romania and adjacent countries.
SARMIS looks to partner with and support mid-market entrepreneurial companies to prosper and grow, by working closely and collaboratively with their management teams and by contributing substantial strategic, operational and management expertise. Headquartered in Bucharest and built on the established reputation of its founding partners, the fund is sector agnostic. It searches for the best opportunities to create value and aims to transform its portfolio investments into local/regional champions in their fields.
SARMIS Capital’s first fund is backed by some of the most prestigious counterparties around the world, including endowments, development financial institutions and high net worth individuals. It is supported, among others, by the JEREMIE Holding Fund Romania, an investment program between EIF and the Government of Romania, whereby EIF acts on behalf and in the ultimate benefit of the Government of Romania and invests reflows generated by operations implemented under JEREMIE Holding Fund Romania during the eligibility period 2007-2013. Furthermore, it benefits from the financial backing 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 Program for the Competitiveness of Enterprises and small and medium enterprises (COSME) (2014-2020).