HIG exits Royo Group's furniture unit

According to the deal, the Royo family will keep a minority stake in the division.

HIG, alongside the Royo family, will retain Royo Group's shower tray business, which operates under the Fiora brand.

The GP intends to focus on strengthening Fiora's innovation, design and product development capabilities in order to consolidate its position in the European premium shower trays segment. HIG also plans to further expand Fiora's international footprint beyond the 30 countries where it is currently present, through its distribution network and its customer service team.

HIG invested in Royo Group in December 2016. The deal saw the GP acquire an undisclosed stake in the family-owned business.

Under HIG's ownership, the company has entered new market segments and geographies, including the DIY channel in Germany.

Royo Group has also strengthened its market position in Spain and France, where the group has grown its distribution network to more than 5,000 points of sale; launched a new brand, Amizuva, which targets the online channel; and increased its revenues by 50%.

In addition, the company developed a new factory and brand in Poland (Maximus) that contributed to strengthening its market position in the Polish market, where it was already present under the Elita brand.

Company
Established in 1971 and headquartered in Valencia, Royo Group produces bathroom furnishings and appliances, including hydro massage baths, shower columns and trays.

The company distributes its products in 60 countries and generates 80% of its revenues outside Spain.

The group employs 1,000 staff and operates three factories in Spain, Poland and Mexico. It generates annual revenues of around €110m.

People
Royo Group International Bathroom – Raul Royo (CEO).
HIG Spain – Jaime Bergel (managing director).

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• Topics
• Exits
• Southern Europe
• Consumer
• HIG Capital
• HIG Europe
• Spain
• Partial sale
• Trade sale