Business Wire

H.I.G. Capital Sells RGIB's Bathroom Furniture Division to Roca

Share

H.I.G. Capital, ("H.I.G."), a leading global private equity investment firm with over €35 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 service team.

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 families.”

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 markets.

About RGIB

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 €110 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 €35 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 approach:

1.

H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.

2.

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 €27 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.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Jaime Bergel
Managing Director
jbergel@higcapital.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

H.I.G. Capital Announces the Sale of DGS S.p.A.11.6.2024 12:00:00 CEST | Press release

H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $62 billion of capital under management, is pleased to announce that an affiliate has signed a definitive agreement to sell its portfolio company, DGS S.p.A. (“DGS” or the “Group”), a leading firm in the Italian Information Technology market, to DGS Co-Founders and management team in partnership with ICG, a global alternative asset manager. Since its inception in 1997, DGShas supported blue-chip customers in the design, integration, and maintenance of complex IT systems, with a specialization in digital transformation and cybersecurity services. The Group currently has over 1,900 employees, revenues of approximately €300 million, and maintains a group of highly loyal clientele. During H.I.G.’s ownership, DGS has tripled in size and consolidated its position as a leading Italian firm in cybersecurity services and digital transformation. DGS offers its clients sophisticated and proprietary digital transformation

Evertas Names Nick Selby Head of European Underwriting11.6.2024 12:00:00 CEST | Press release

Evertas, the world’s first crypto insurance company, has named Nick Selby as its new Head of European Underwriting. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240611141887/en/ Nick Selby, Executive Vice President and Head of European Underwriting at Evertas (Photo: Business Wire) Selby, an accomplished information and physical security professional, brings two decades of expertise in public and private sector information security, physical security, and complex incident handling, as well as seven years of experience leading teams securing billions of dollars in cryptoassets. Previously, his roles included VP of the Software Assurance Practice at Trail of Bits, Chief Security Officer at Paxos Trust Company, and Director of Cyber Intelligence and Investigations at the NYPD Intelligence Bureau. “Nick is an extremely valuable addition to our European team,” said Evertas CEO and Co-Founder J. Gdanski. “His public and private

Owlet utvider globalt fotavtrykk med lanseringen av medisinsk-sertifisert Dream Sock™ i Storbritannia og over hele Europa11.6.2024 11:00:00 CEST | Pressemelding

Owlet, Inc. («Owlet» or the «Company») (NYSE:OWLT), pioneren innen smart spedbarnsovervåking, kunngjør i dag den britiske og europeiske lanseringen av Dream Sock. Dette er en smart babymonitor med levende helseavlesninger og varsler for friske spedbarn mellom 0-18 måneder og 2,5-13,6 kg. Dette innovative medisinske utstyret gir foreldre helse og viktig informasjon i sanntid, noe som gir uovertruffen trygghet. Denne pressemeldingen inneholder multimedia. Se hele pressemeldingen her: https://www.businesswire.com/news/home/20240611820341/no/ (Photo: Business Wire) «Vi er svært stolte over å lansere Dream Sock til omsorgspersoner over hele Storbritannia og Europa og gi millioner av foreldre mer trygghet mens babyen sover,» sa Kurt Workman, Owlets administrerende direktør og medgründer. «Dream Sock er nå et globalt produkt som er anerkjent som medisinsk nøyaktig og trygt, etter å ha gjennomgått regulatoriske autorisasjoner og sertifiseringer innenfor flere geografier. I dag er misjonen vår

V-Nova Surpasses 1000 Patent Milestone in Media Technology Innovation11.6.2024 10:00:00 CEST | Press release

V-Nova, a leading provider of data compression solutions, video compression technology, XR technology, AI acceleration and parallel processing for a multitude of industries including media and entertainment, today announced its milestone achievement of 1000 active technology patents. This accomplishment underscores V-Nova’s dedication to research and development and its commitment to protecting its intellectual property globally. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240611724561/en/ V-Nova’s patent portfolio spans more than 50 different jurisdictions. Including over 400 patents in Europe, over 200 in the Americas, over 100 in the United States specifically, and over 200 in Asia. V-Nova forged new directions in data processing to enhance digital experiences, maximize efficiency, reduce costs, and increase sustainability. The company leads the way with key international data compression standards for the video indust

Alipay+ Reveals Top Scorer Trophy Design for UEFA EURO 2024™11.6.2024 09:24:00 CEST | Press release

Alipay+, a suite of cross-border mobile payment and digitalization technology solutions operated by Ant International and an Official Partner of UEFA EURO 2024™, today revealed the trophy that will be awarded to the most prolific marksman at the UEFA EURO 2024™ finale on July 14 in Berlin, Germany. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240610328619/en/ The UEFA Top Scorer Trophy presented by Alipay+ is unveiled for UEFA EURO 2024™ (Photo: Business Wire) Sculpted in the shape of the Chinese character “支” (pronounced zhi, and meaning payment as well as support), the trophy reflects Alipay+’s dedication to supporting consumers to enjoy seamless payment and a broad choice of deals using their preferred payment methods while traveling abroad. The character also resembles the fleeting moment of a barefooted striker poised to shoot, evoking the original beauty and power of football – a game that united people across the wo

World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye