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.

Contact information

Jaime Bergel
Managing Director
jbergel@higcapital.com

About Business Wire

Business Wire
Business Wire



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

CGTN: What Are Generations of Chinese Communists Striving For?27.2.2021 16:36:00 CETPress release

The Communist Party of China (CPC), the ruling party of the world's most populous nation and the second largest economy, is turning 100 this year. What has been motivating the CPC to fight against one challenge after another over the past century? This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210227005021/en/ "The original aspiration and the mission of Chinese Communists is to seek happiness for the Chinese people and rejuvenation for the Chinese nation," General Secretary Xi Jinping of the CPC Central Committee said in his report to the 19th CPC National Congress in October 2017. "This founding aspiration, this mission, is what inspires the Chinese Communists to advance," Xi said. Self-discipline, selflessness In March 2018, Xi, also the Chinese president, further explained the cause pursued by the CPC with a quote from an ancient poem: "A virtuous person is as sharp-sighted as a clear mirror hanging high, a selfless perso

Colicity Inc. Announces Closing of $345 Million Initial Public Offering26.2.2021 23:00:00 CETPress release

Colicity Inc. (the “Company”) announced the closing today of its initial public offering of 34,500,000 units, including the underwriters’ exercise of their full over-allotment option for 4,500,000 units, at a price of $10.00 per unit. The units are listed on the NASDAQ Stock Market (NASDAQ) and began trading under the ticker symbol “COLIU” on February 24, 2021. Each unit consists of one Class A share and one-fifth of one redeemable warrant, with each whole warrant exercisable to purchase one Class A share at a price of $11.50 per share. Only whole warrants will be exercisable. Once the securities comprising the units begin separate trading, the Class A shares and warrants are expected to be listed on the NASDAQ under the symbols “COLI” and “COLIW,” respectively. Colicity Inc. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company int

C3 AI and Baker Hughes to Provide Enterprise AI Solutions to Accelerate PETRONAS Digital Transformation Program26.2.2021 15:00:00 CETPress release

C3 AI (NYSE: AI) and Baker Hughes today announced an artificial intelligence (AI) collaboration with PETRONAS, a global energy and solutions company from Malaysia, to apply BakerHughesC3.ai (BHC3) technology across PETRONAS’s strategic digital transformation programs. As the custodian of Malaysia's national oil and gas resources, PETRONAS runs an extensive digital transformation program across energy operations to extract value from data. The adoption of AI as part of its overall program for improved oil and gas productivity, asset integrity, and safety supports PETRONAS’s commitment to provide clean, efficient energy solutions by harnessing the power of technology. PETRONAS will work with energy technology, data science, and AI experts at Baker Hughes and C3 AI to collaborate on projects focused on improved reliability of energy assets in critical operations. Utilizing Microsoft Azure, PETRONAS will deploy the BHC3™ Reliability application to further improve maintenance programs for g

Avania in Position for Next Stage of Growth26.2.2021 14:00:00 CETPress release

Avania, a leading global full-service contract research organization (CRO) focused on medical technology (MedTech) development, today announced that it has successfully refinanced its existing banking facilities with Crescent Capital Group. “This new banking facility allows us to accelerate our next phase of organic and acquisitive growth over the next few years,” said Edo van Houten, CFO of Avania. “This transaction is also a reflection of the progress we have made in our brand strategy and position in the market, and it demonstrates the confidence of the financial community in our operational and strategic plan.” Avania has navigated confidently through the COVID-19 pandemic, posting a strong year of growth in 2020 despite the pandemic. The company will continue its growth trajectory as a global MedTech-focused CRO, supporting products from concept through post-market support. MedTech is all Avania does, navigating innovative medical technologies to market effectively and efficiently

Ipsen Receives Positive CHMP Opinion Recommending Cabometyx ® in Combination With Opdivo ® as First-line Treatment for Patients Living With Advanced Renal Cell Carcinoma26.2.2021 12:37:00 CETPress release

Regulatory News: Ipsen (Euronext: IPN; ADR: IPSEY) today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has recommended approval for Cabometyx® (cabozantinib) in combination with Bristol Myers Squibb’s Opdivo® (nivolumab) for the first-line treatment of advanced renal cell carcinoma (aRCC). The European Commission, which has the authority to approve medicines for the European Union (E.U.), will now review the CHMP recommendation and a final decision on the application in the E.U. is expected in the coming months. “Advanced renal cell carcinoma is a disease that significantly impacts the lives of people around the world. We’re proud to be able to share that the CHMP has confirmed a positive recommendation for Cabometyx® in combination with Opdivo®, bringing this impactful new treatment option one step closer for patients,” said Howard Mayer, Executive Vice President and Head of Research and Development, Ipsen. “At Ipsen, w

Hiro Capital Leads $15 Million of Games VC Investment Into Snowprint Studios, Double Loop Games and Happy Volcano Games26.2.2021 09:55:00 CETPress release

Three international video game studios are the latest investments for Hiro Capital, the entrepreneur-led Venture Capital fund focused on backing innovators in Video Games, the Metaverse, Esports and Digital Fitness. The three mobile and cross-platform studios – Snowprint in Stockholm/Berlin, Double Loop Games in San Francisco and Happy Volcano in Belgium – will use Hiro’s investment to expand their development pipelines and accelerate global growth. They join UK and US Games studios Flavourworks, Polyarc and Lightfox in the Hiro Capital portfolio, alongside pioneers in the gamification of Games Streaming and Digital Fitness LIV.tv, Edgegap,FitXR and Nurvv. Ian Livingstone, co-founding partner at Hiro Capital, said, "We are excited to begin 2021 by announcing Hiro's investment in three amazing games studios, Snowprint, Double Loop and Happy Volcano. Each studio has demonstrated innovation and expertise in developing fun to play games which resonate with today’s audiences. I’m especially

Inspur Information Releases 2020 Global Computing Index Report26.2.2021 09:07:00 CETPress release

Inspur Information, a leading IT infrastructure solutions provider, has sponsored an International Data Corporation (IDC) white paper on the 2020 Global Computing Index (henceforth referred to as The Report). As the world’s first index report on computing, The Report unveils the relationship between computing power and economic development and serves as a reference for the outlook of the global digital economy. Global digital transformation has entered a phase marked by exponential growth in innovation, with the size of the digital economy projected to continue on an upward trend. As a key factor that underlies digital technology development, computing is now defining the productivity of the digital economy era. According to The Report, economic growth directly correlates with the development of computing—one point of growth in the computing index translates to a 3.3‰ rise in the size of the digital economy and a 1.8‰ growth in GDP. Specifically, AI computing market share is projected

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom