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SPAIN - 3i exits Faus Group

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3i in Spain has sold its 38% shareholding in Faus Group, a manufacturer of laminated flooring and other components for the building and design industries. The total value of the transaction has not been disclosed but the IRR for 3i after nine years is 25%. The Faus family has also sold its interest in the company along with 3i to CXG Corporation, Caixa Galicia and other investors. The current management team will continue to run the company.

3i originally invested in Faus Group in 1997. It acquired 28.5% and later in 1999 invested a further EUR 7.2m to increase its shareholding to 38%. In 1997 Fuas Group registered a turnover of EUR 60m, which had increased to EUR 180m by 2005.The company now has three factories in Spain, China and the USA.
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