Studio Moderna Holdings acquired by founder, Sandi Cesko

Robert Moran, Robert Asplin and Iain Reilly of PwC Restructuring M&A have advised Studio Moderna Holdings B.V. ("Studio Moderna" or "the company"), the c.€400m multi-channel, e-commerce and direct to consumer platform in 20 countries across Central and Eastern Europe (CEE), on its sale to Sandi Češko.

Existing Private Equity owners, General Atlantic, Insight Venture Partners, Templeton Strategic Emerging Markets Fund III and JH Partners have fully exited their stakes as part of the deal.

Sandi Češko, the original Founder of Studio Moderna, the consumer company creating mattress brands with the patented Octaspring® Aerospace Technology, will lead the business going forward.

Studio Moderna is an omni-channel retailer with a track record of creating and developing trusted brands. The company comprises a portfolio of homeware brands, including bed and bedding expert Dormeo and kitchenware leader Delimano.

Over recent years, the company has further built its brands platform across CEE, shifting the business' focus from primarily a third-party distributor focus, to creating and developing proprietary brands. This transformation has enabled Studio Moderna to leverage direct-to-consumer capabilities and develop its omni-channel distribution and digital approach. The company has also diversified its revenue streams across over 20 countries and acquired digital brands, such as cosmetics brand Pink Panda.

David Kubala, Chief Financial and Improvement Officer, commented:

"PwC were crucial to delivering a successful outcome. The team’s dedication, problem solving and collaborative approach made this transaction much smoother than anticipated. PwC were also able to bring their significant technology tools to the fore, enhancing the diligence process. I truly enjoyed working with the whole PwC team."

Robert Moran, Partner, Restructuring M&A commented:

“We are delighted to have closed the sale of Studio Moderna. Sandi will be able to bring his wealth of experience to support the business through this important phase, as it refocuses on its core product offering and geographies. This transaction provides a great example of the strong market appetite for solid underlying business and PwC’s ability to achieve the best possible outcome for all stakeholders.”