Carpet Court
Transforming a stressed retailer into a platform of scale
Snapshot
Type of Investment
Turnaround
Industry
Retail
Initial Investment
July 2015
Fund
Allegro Fund II
Investment Status
Exited
In July 2015, Allegro completed the complex acquisition of Carpet Court New Zealand (CC NZ) – later forming part of The Interiors Group (TIG) – which at the time was loss-making and on the verge of receivership.
Allegro deployed capital to stabilise operations and execute a systematic, three-stage transformation framework. The turnaround involved substantial investments in physical showrooms, leadership talent, and technology infrastructure to shift the business from a fragmented retail model into a customer-centric franchise. The successful execution of this plan significantly improved profitability, driving earnings from negative into the mid-teens, boosting Net Promoter Score to over 60, and expanding the network to over 100 showrooms via organic growth and strategic acquisitions.
In September 2021, Allegro completed a full exit by selling TIG to New Zealand private equity firm Pencarrow Private Equity, leaving the business strongly positioned for long-term sustainable growth.