KKR, Artá back kitchen panels specialist Alvic

The GPs acquired a stake in the business from the founding Rosales family. According to press reports, the deal values the company at around €250-300m.

With the GPs' support, the company plans to further expand internationally, particularly in the US, as well as open new manufacturing facilities in Alcaudete, Andalusia, and Solsona, Catalonia, for flat pack furniture.

KKR's investment was deployed via its European private equity funds.

Company
Founded in 1965 and based in Vic, near Barcelona, Alvic manufactures panels, components and ready-to-assemble custom-sized furniture for kitchens, bathrooms and offices. The company employs 890 staff and operates four manufacturing facilities located across Spain and one based in Auburndale, Florida. 

It sells its products via partner-distributors, DIY retailers, directly to manufacturers and through a network of 28 Alvic Centers. In addition, the group sells office furniture under the brand Ofitres, and kitchen and bathroom furniture under the brand Faro.

Alvic generated revenues of €170m in 2018, of which more than 70% came from outside Spain. It expects to exceed turnover of €180m in 2019.

People 
Artá Capital – Ramón Carné Casas, Nicolas Jiménez-Ugarte (managing partners).

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• Topics
• Expansion
• Southern Europe
• Consumer
• KKR
• Spain