Breaking News

H.I.G. Cash Sells RGIB’s Bathroom Furnishings Division to Roca

H.I.G. Money Sells RGIB’s Toilet Home furniture Division to Roca

H.I.G. Capital, (“H.I.G.”), a main worldwide non-public equity financial investment organization with above €35 billion of equity money under management, and the Royo household have entered into an agreement to market the bathroom home furniture division of RG Global Lavatory (“RGIB or the “Company”) to Roca Sanitario, S.A. The Royo relatives will keep a minority stake in the division. Each H.I.G. and the Royo spouse and children will continue as shareholders of the shower tray business enterprise of RGIB, operating under the Fiora manufacturer.

H.I.G. partnered with the Royo relatives in December 2016 and has reached a number of significant milestones, such as:

  • Developing a new manufacturing unit and manufacturer in Poland (Maximus) that contributed to strengthening the foremost posture that RGIB previously had in the Polish current market underneath the Elita brand
  • Getting into new segments, channels and nations just one of the most applicable achievements was the entry into the Do-it-yourself channel in Germany wherever RGIB is now a leading participant
  • Consolidating RGIB’s major position in Spain and France, the place the group has grown its distribution network to additional than 5,000 factors of sale
  • Launching Amizuva, an distinctive model that targets the on the web channel
  • Growing RGIB´s revenues by around 50%

The Royo loved ones and H.I.G. will retain ownership of Fiora and will keep on to bolster the Firm’s innovation, structure and item growth abilities in get to consolidate Flora’s top placement in the European premium shower trays section. The shareholders will also concentration on more growing Fiora’s worldwide footprint further than the 30 nations around the world where by it is at the moment current via its prevalent distribution community and its buyer company staff.

Raul Royo, CEO of RGIB, said: “We would like to thank H.I.G. for their help over the earlier 4 years, which has authorized us to improve our major place in Europe. The arrangement with Roca, a international chief in the rest room sector, will help us improve our point out-of-the-art small business, with almost 150 years of blended working experience in the sector amongst the two families.”

Jaime Bergel, Controlling Director of H.I.G. Spain commented: “We are pretty pleased with the results of this financial commitment, which proves our capabilities in the Spanish current market. Jointly with the Royo family members, we have positioned RGIB as one of the leading companies in the bathroom sector in Europe, and we will keep on supporting Fiora to consolidate its leadership in the European sector.”

The deal is subject matter to approval by antitrust authorities in some European marketplaces.

About RGIB

RG Global Rest room, launched additional than 45 a long time in the past by Pascual Royo, is one of Europe’s main brands of bathroom solutions, primarily focused on furnishings and resin shower trays. The group has factories in Valencia, Nájera and Poland and operates on 5 continents beneath the makes Royo, Elita, Maximus and Fiora. RGIB has an once-a-year turnover of more than €110 million and employs additional than 1,000 industry experts.

About Roca Group

Roca Sanitario is devoted to the design and style, creation and promoting of bathroom solutions, as nicely as ceramic flooring and wall tiles for architecture, construction and inside style. The relatives-owned Spanish team is the current market chief in Europe, Latin The usa, India and Russia. It also has a strong existence in China and the rest of Asia, the Middle East, Australia and Africa. It is the international chief in the area.

About H.I.G. Capital

H.I.G. is a main international non-public equity and choice assets expense company with about €35 billion of fairness money less than management.* Based mostly in Miami, and with places of work in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as very well as intercontinental affiliate workplaces in London, Hamburg, Madrid, Milan, Paris, Rio de Janeiro, São Paulo and Bogotá, H.I.G. specializes in supplying the two personal debt and fairness funds to small and mid-sized firms, employing a adaptable and operationally focused/worth-extra solution:

1.

 

H.I.G.’s fairness cash spend in administration buyouts, recapitalizations and company carve-outs of the two financially rewarding as effectively as underperforming production and service corporations.

 

 

 

2.

 

H.I.G.’s credit card debt money make investments in senior, unitranche and junior credit card debt financing to corporations throughout the measurement spectrum, each on a primary (direct origination) foundation, as effectively as in the secondary marketplaces. H.I.G. is also a foremost CLO manager, via its WhiteHorse family members of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.

 

 

 

3.

 

H.I.G.’s serious estate resources make investments in benefit-added attributes, which can gain from improved asset management techniques.

Due to the fact its founding in 1993, H.I.G. has invested in and managed more than 300 businesses worldwide. The firm’s current portfolio incorporates much more than 100 corporations with merged income in surplus of €27 billion. For far more details, make sure you refer to the H.I.G. site at www.higcapital.com.

* Centered on overall commitments managed by H.I.G. Funds and affiliates.

Jaime Bergel

Managing Director

[email protected]

Watch resource version on businesswire.com: https://www.businesswire.com/information/household/20210120005399/en/