Nord Holding sells Parador to trade for €82.8m

The total cash consideration is €72.3m, which comprises a payment of €53m to Parador's shareholders and two payments of €9.7m and €9.6m for the repayment of two shareholder loans.

Nord said it had successfully completed the complex carve-out of the company, expanded its commercial business overseas by setting up a joint venture in China, and established digital points of sale. During Nord's holding period, the company's revenues increased from €140m to €150m, while its workforce decreased from 550 to 500.

Nord has more than €1.5bn in assets under management and runs a fund-of-funds programme alongside its direct investment operations.

HIL is a building materials company in the CK Birla conglomerate, a group worth $1.8bn.

Previous funding
Nord completed the carve-out of Parador from furniture group Hüls in October 2016. The buyout was thought the be leveraged at less than 50%.

Company
Founded in 1977 and based in Coesfeld, Parador produces flooring such as parquet and laminate, as well as ceiling panels. The business employs 500 people and has a turnover of €150m.

People
Nord Holding – Eberhard von Strenge (member of the management board).
HIL – Dhirup Choudhary (CEO).

Advisers
Acquirer – GCA Altium (corporate finance).
Vendor – William Blair (corporate finance).

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• Topics
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• Trade sale