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MADRID --(BUSINESS WIRE)--20.01.2021--
H.I.G. Capital, ("H.I.G."), a leading global private equity investment firm
with over EUR35 billion of equity capital under management, and the Royo family
have entered into an agreement to sell the bathroom furniture division of RG
International Bathroom ('RGIB or the 'Company') to Roca Sanitario, S.A. The
Royo family will retain a minority stake in the division. Both H.I.G. and the
Royo family will continue as shareholders of the shower tray business of RGIB,
operating under the Fiora brand.
H.I.G. partnered with the Royo family in December 2016 and has achieved a
number of important milestones, including:
* Developing a new factory and brand in Poland (Maximus) that contributed to
strengthening the leading position that RGIB already had in the Polish
market under the Elita brand
* Entering new segments, channels and countries; one of the most relevant
achievements was the entry into the DIY channel in Germany where RGIB is
now a leading player
* Consolidating RGIB's leading position in Spain and France, where the group
has grown its distribution network to more than 5,000 points of sale
* Launching Amizuva, an exclusive brand that targets the online channel
* Increasing RGIB's revenues by over 50%
The Royo family and H.I.G. will retain ownership of Fiora and will continue to
strengthen the Company's innovation, design and product development
capabilities in order to consolidate Flora's leading position in the European
premium shower trays segment. The shareholders will also focus on further
expanding Fiora's international footprint beyond the 30 countries where it is
currently present through its widespread distribution network and its customer
Raul Royo, CEO of RGIB, stated: "We would like to thank H.I.G. for their
support over the past four years, which has allowed us to strengthen our
leading position in Europe. The agreement with Roca, a global leader in the
bathroom sector, will help us enhance our state-of-the-art business, with
almost 150 years of combined experience in the sector between the two
Jaime Bergel, Managing Director of H.I.G. Spain commented: 'We are very pleased
with the success of this investment, which proves our capabilities in the
Spanish market. Together with the Royo family, we have positioned RGIB as one
of the leading companies in the bathroom sector in Europe, and we will continue
supporting Fiora to consolidate its leadership in the European market.'
The deal is subject to approval by antitrust authorities in some European
RG International Bathroom, founded more than 45 years ago by Pascual Royo, is
one of Europe's leading manufacturers of bathroom products, mainly focused on
furniture and resin shower trays. The group has factories in Valencia, Nájera
and Poland and operates on five continents under the brands Royo, Elita,
Maximus and Fiora. RGIB has an annual turnover of more than EUR110 million and
employs more than 1,000 professionals.
About Roca Group
Roca Sanitario is dedicated to the design, production and marketing of bathroom
products, as well as ceramic floor and wall tiles for architecture,
construction and interior design. The family-owned Spanish group is the market
leader in Europe, Latin America, India and Russia. It also has a strong
presence in China and the rest of Asia, the Middle East, Australia and Africa.
It is the international leader in the field.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment
firm with over EUR35 billion of equity capital under management.* Based in Miami,
and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San
Francisco, and Atlanta in the U.S., as well as international affiliate offices
in London, Hamburg, Madrid, Milan, Paris, Rio de Janeiro, São Paulo and Bogotá,
H.I.G. specializes in providing both debt and equity capital to small and
mid-sized companies, utilizing a flexible and operationally focused/value-added
H.I.G.'s equity funds invest in management buyouts, recapitalizations and
1. corporate carve-outs of both profitable as well as underperforming
manufacturing and service businesses.
||H.I.G.'s debt funds invest in senior, unitranche and junior debt financing
||to companies across the size spectrum, both on a primary (direct
||origination) basis, as well as in the secondary markets. H.I.G. is also a
||leading CLO manager, through its WhiteHorse family of vehicles, and
||manages a publicly traded BDC, WhiteHorse Finance.
3. H.I.G.'s real estate funds invest in value-added properties, which can
benefit from improved asset management practices.
Since its founding in 1993, H.I.G. has invested in and managed more than 300
companies worldwide. The firm's current portfolio includes more than 100
companies with combined sales in excess of EUR27 billion. For more information,
please refer to the H.I.G. website at www.higcapital.com.
* Based on total commitments managed by H.I.G. Capital and affiliates.
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