Private equity firms Investindustrial and Carlyle Group teamed up to create a high-end interior design group, with total sales of more than 500 million euros ($580 million).

The new venture will target both wider expansion for the existing brands and the acquisition of new ones.

In a joint statement the Italian and U.S.-based firms said the new group would initially consists of furniture maker B&B Italia together with Flos and Luis Poulsen lighting.

The three companies, which are currently owned by Investindustrial, can boast design products including B&B Italia’s armchair “Up” designed by artist Gaetano Pesce.

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