MADRID–(BUSINESS WIRE)–Jan 20, 2021–
H.I.G. Capital, (“H.I.G.”), a number one international non-public fairness funding agency with over €35 billion of fairness capital underneath administration, and the Royo household have entered into an settlement to promote the toilet furnishings division of RG Worldwide Rest room (“RGIB or the “Firm”) to Roca Sanitario, S.A. The Royo household will retain a minority stake within the division. Each H.I.G. and the Royo household will proceed as shareholders of the bathe tray enterprise of RGIB, working underneath the Fiora model.
H.I.G. partnered with the Royo household in December 2016 and has achieved a variety of necessary milestones, together with:
- Growing a brand new manufacturing unit and model in Poland (Maximus) that contributed to strengthening the main place that RGIB already had within the Polish market underneath the Elita model
- Coming into new segments, channels and nations; some of the related achievements was the entry into the DIY channel in Germany the place RGIB is now a number one participant
- Consolidating RGIB’s main place in Spain and France, the place the group has grown its distribution community to greater than 5,000 factors of sale
- Launching Amizuva, an unique model that targets the net channel
- Growing RGIB´s revenues by over 50%
The Royo household and H.I.G. will retain possession of Fiora and can proceed to strengthen the Firm’s innovation, design and product improvement capabilities with the intention to consolidate Flora’s main place within the European premium bathe trays phase. The shareholders can even concentrate on additional increasing Fiora’s worldwide footprint past the 30 nations the place it’s at present current by means of its widespread distribution community and its customer support staff.
Raul Royo, CEO of RGIB, acknowledged: “We want to thank H.I.G. for his or her help over the previous 4 years, which has allowed us to strengthen our main place in Europe. The settlement with Roca, a worldwide chief within the lavatory sector, will assist us improve our state-of-the-art enterprise, with virtually 150 years of mixed expertise within the sector between the 2 households.”
Jaime Bergel, Managing Director of H.I.G. Spain commented: “We’re very happy with the success of this funding, which proves our capabilities within the Spanish market. Along with the Royo household, now we have positioned RGIB as one of many main corporations within the lavatory sector in Europe, and we’ll proceed supporting Fiora to consolidate its management within the European market.”
The deal is topic to approval by antitrust authorities in some European markets.
RG Worldwide Rest room, based greater than 45 years in the past by Pascual Royo, is certainly one of Europe’s main producers of loo merchandise, primarily centered on furnishings and resin bathe trays. The group has factories in Valencia, Nájera and Poland and operates on 5 continents underneath the manufacturers Royo, Elita, Maximus and Fiora. RGIB has an annual turnover of greater than €110 million and employs greater than 1,000 professionals.
Roca Sanitario is devoted to the design, manufacturing and advertising of loo merchandise, in addition to ceramic ground and wall tiles for structure, building and inside design. The family-owned Spanish group is the market chief in Europe, Latin America, India and Russia. It additionally has a robust presence in China and the remainder of Asia, the Center East, Australia and Africa. It’s the worldwide chief within the subject.
H.I.G. is a number one international non-public fairness and different belongings funding agency with over €35 billion of fairness capital underneath administration.* Primarily based in Miami, and with workplaces in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta within the U.S., in addition to worldwide affiliate workplaces in London, Hamburg, Madrid, Milan, Paris, Rio de Janeiro, São Paulo and Bogotá, H.I.G. makes a speciality of offering each debt and fairness capital to small and mid-sized corporations, using a versatile and operationally centered/value-added method:
H.I.G.’s fairness funds spend money on administration buyouts, recapitalizations and company carve-outs of each worthwhile in addition to underperforming manufacturing and repair companies.
H.I.G.’s debt funds spend money on senior, unitranche and junior debt financing to corporations throughout the dimensions spectrum, each on a main (direct origination) foundation, in addition to within the secondary markets. H.I.G. can be a number one CLO supervisor, by means of its WhiteHorse household of automobiles, and manages a publicly traded BDC, WhiteHorse Finance.
H.I.G.’s actual property funds spend money on value-added properties, which might profit from improved asset administration practices.
Since its founding in 1993, H.I.G. has invested in and managed greater than 300 corporations worldwide. The agency’s present portfolio consists of greater than 100 corporations with mixed gross sales in extra of €27 billion. For extra data, please confer with the H.I.G. web site at www.higcapital.com.
* Primarily based on whole commitments managed by H.I.G. Capital and associates.
KEYWORD: EUROPE SPAIN UNITED STATES NORTH AMERICA FLORIDA
INDUSTRY KEYWORD: RETAIL ARCHITECTURE OTHER PROFESSIONAL SERVICES MANUFACTURING FINANCE OTHER CONSTRUCTION & PROPERTY BANKING HOME GOODS PROFESSIONAL SERVICES CONSTRUCTION & PROPERTY MARKETING COMMUNICATIONS OTHER MANUFACTURING INTERIOR DESIGN
Copyright Enterprise Wire 2021.
PUB: 01/20/2021 08:20 AM/DISC: 01/20/2021 08:20 AM
Copyright Enterprise Wire 2021.