H.I.G. Capital Sells Fiora to The Engineered Stone Group
H.I.G. Capital, ("H.I.G."), a leading global alternative asset management firm with $45 billion of equity capital under management, announced today that an affiliate has sold Fiora Bath Collections, S.L. (“Fiora” or the “Company”) to The Engineered Stone Group (“ES Group”).
Fiora is a leading manufacturer of resin shower trays, bathroom furniture, wall panels, washbasins, and other bathroom products, operating from a state-of-the-art manufacturing plant located in Nájera (La Rioja, Spain) and selling its products to over 30 countries.
H.I.G. acquired a majority stake in 2018 and since then has achieved a number of important milestones, including:
- Strengthening the Company's innovation, design and product development capabilities, consolidating Fiora’s leading position in the European premium shower tray segment
- Expanding Fiora’s international footprint by entering into new markets in Europe and North America
- Entering new product segments (bathroom furniture) and channels (private labels and DIY)
- Further developing Fiora’s agent network and its direct access to more than 2,000 independent professional retailers
- Investing in the Company’s operational capabilities and logistics network to ensure market leading customer service levels and short lead-times
- Increasing the volume of shower trays sold by over 40%
Fernando Soriano, CEO of Fiora, stated: "We would like to thank H.I.G. for their close and trusting support and their strategic guidance over the last four years. Together, we have strengthened Fiora’s position as a leading shower tray manufacturer in Europe. H.I.G. has been a true partner for the management team, significantly supporting us in professionalizing the Company and pursuing an ambitious growth strategy.”
Jaime Bergel, Managing Director of H.I.G. Spain commented: “We are delighted to have supported Fiora in its transformation, and its successful growth path towards a true European market leader. The Company is now perfectly positioned for further growth on a global scale and we wish the management team continued success in the future.”
Founded in the 1980s, Fiora is a leading manufacturer of resin shower trays, bathroom furniture, wall panels, washbasins, and other bathroom products, operating from a state-of-the-art manufacturing plant located in Nájera (La Rioja, Spain) and selling its products in over 30 countries. Fiora employs more than 140 professionals.
About The Engineered Stone Group
The Engineered Stone Group was established by The Cranemere Group to build a leading material specialist in the broader bathroom product market. ES Group offers a full suite of engineered stone bathroom products, including basins, bathtubs, shower trays and wall panels presence in all relevant European countries. The ES Group is made up of Marmite, Acquabella, F+D Group, Mcbath, Nuovvo and Fiora.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $45 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:
- 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.
- 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.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
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 $30 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.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
Antonio Maura 4 – 4th Floor
P +34 91 737 50 50
F +34 91 737 50 49
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
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
IFF Appoints Glenn Richter as Executive Vice President and Chief Financial Officer16.9.2021 23:15:00 EEST | Press release
IFF (NYSE: IFF) today announced that Glenn Richter, an accomplished financial executive with nearly three decades of experience overseeing finance and corporate strategy for multinational companies, has been appointed Executive Vice President and Chief Financial Officer, effective September 27, 2021. Mr. Richter was most recently Chief Financial Officer of TIAA, a leading global provider of financial services with $1.3 trillion in assets under management. He succeeds Rustom Jilla, who will be leaving the Company following a period of transition. With this appointment, Mr. Richter becomes a member of IFF’s Executive Committee and will be based in the Company’s New York City headquarters. “We are delighted to welcome Glenn to our leadership team. His experience leading large, global finance departments, implementing multi-year strategic productivity initiatives and managing transformative integrations will be a tremendous asset to our team,” said Andreas Fibig, Chairman and Chief Executi
The NAGA Group AG: Christian Angermayer's Apeiron Investment Group and Fosun Join Forces to Further Drive NAGA Growth16.9.2021 23:00:00 EEST | Press release
NAGA Group AG (XETRA: N4G, ISIN: DE000A161NR7), provider of the social network for trading, cryptocurrencies and payments NAGA.com, announces its largest equity financing round to date and welcomes Apeiron Investment Group Ltd, the private investment company of entrepreneur and investor Christian Angermayer, and Igor Lychagov, founder of Exness (one of the world's largest brokerage firms with a monthly trading volume of USD 1 trillion) as new strategic and long-term investors. Hauck & Aufhäuser acted as sole bookrunner in the transaction. In addition to participating in the capital increase, Apeiron has entered into a share purchase agreement with its Elevat3 strategy, operating in partnership with Peter Thiel's Founders Fund, to purchase a block of shares from FOSUN Group and is in negotiations to acquire additional shares from other shareholders. These transactions are subject to regulatory approvals. In total and upon full completion, Apeiron is targeting a stake of approximately 22
Landmark Celebrates 30 Years as the Industry Leader in Personal & Professional Growth, Training and Development16.9.2021 21:00:00 EEST | Press release
Landmark (Landmark Worldwide), established in 1991, celebrates its 30th anniversary with more than three million people across the globe having been positively and powerfully contributed to and empowered by its programs. Marking a related anniversary, it was 50 years ago that the ideas that grew into Landmark were born with the delivery of the first est Training in 1971. As the leader in the personal and professional growth, training and development industry, Landmark’s programs and ideas have empowered people for five decades to dramatically elevate the quality of their lives and, in addition, to impact the areas of their lives that matter most to them. Marketdata Enterprises, Inc., publishers of the definitive report on the personal development industry in the United States, stated in their 2021 report: “Landmark was named one of the top training and development companies in the world by HR.com/James McNeil.” “Landmark is recognized for having one of the best faculty bodies in the bu
ISACA to Host Inaugural ISACA Conference Europe Virtual Event16.9.2021 20:21:00 EEST | Press release
Next month, ISACA will host the first-ever ISACA Conference Europe, an event focused on emerging technologies, best practices, and leadership development. The conference will take place virtually 20-22 October featuring topics for business technology professionals as they navigate their transformational roles. ISACA Conference Europe sessions range from 25-75 minutes in length and provide the opportunity to earn up to 19 continuing professional education credits. Conference tracks focus on IT audit, IT governance, COBIT, CMMI, cybersecurity, privacy, risk, performance improvement, emerging technologies, and leadership development & career management. Sessions will be presented live via ISACA’s virtual conference platform, and many will feature a live Q&A with speakers. Attendees will have extended access to the sessions and content so they may view them at their own pace. Session topics include data ethics laws, blockchain, CMMI V2.0, cloud security, auditing artificial intelligence, q
Virpax® Pharmaceuticals Announces Closing of $40 Million Public Offering of Common Stock16.9.2021 20:00:00 EEST | Press release
Virpax® Pharmaceuticals Inc. (“Virpax” or the “Company”) (NASDAQ:VRPX), a company specializing in developing pharmaceutical products for pain management, today announced the closing of an underwritten public offering of 6,670,000 shares of its common stock at a public offering price of $6.00 per share, for gross proceeds of $40,020,000, before deducting underwriting discounts and offering expenses. In addition, Virpax has granted the underwriters a 45-day option to purchase up to an additional 1,000,500 shares of common stock to cover over-allotments at the public offering price, less the underwriting discount. Virpax intends to use the net proceeds from the offering to fund research and development of the Epoladerm, Probudur, Envelta and AnQlar indications and other development programs, pay fees and expenses associated with the offering, repay outstanding promissory notes issued to the Company’s Chief Executive Officer and pay deferred compensation due to the Company’s Chief Executiv
Verimatrix To Highlight Success In Enabling Secure Virtual Hollywood Events at Variety Entertainment & Technology Summit16.9.2021 18:45:00 EEST | Press release
Regulatory News: Verimatrix, (Paris:VMX), the leader in powering the modern connected world with people-centered security, today announced that Jon Samsel, Senior Vice President of Marketing, will discuss the value of harnessing security as a differentiator for the M&E industry during the upcoming virtual Variety Entertainment & Technology Summit. On Thursday, September 23, 2021 from 10:50 to 11:20 a.m. Pacific Time, Samsel will take part in a panel alongside Little Cinema Digital CEO Jay Rinsky and moderator Todd Spangler, NY Digital Editor at Variety. Register for free today. Titled, “Security That's Transforming Hollywood: The Little Cinema Digital Story,” the online event serves as an opportunity for attendees to learn how Verimatrix and Little Cinema Digital collaborated to transform the traditional Hollywood movie premiere business into an immersive virtual event platform that breaks down traditional limitations of venue capacities or locations. By leading with security, the comp
Exactech’s Equinoxe® Stemless Shoulder Replacement System Debuts in Europe16.9.2021 17:06:00 EEST | Press release
Exactech, a developer and producer of innovative implants, instrumentation and smart technologies for joint replacement surgery, announced today that the first anatomic total shoulder surgery has been performed in Europe using its bone-conserving, 3D-printed Equinoxe® Stemless Shoulder. Prof. Mark Tauber, MD, PhD, of Athos Klinik in Munich, Germany, performed the first surgery earlier this month. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210916005561/en/ Prof. Mark Tauber, MD, PhD, of Athos Klinik in Munich, Germany performed the first surgery in Europe using Exactech's bone-conserving, 3D-printed Equinoxe® Stemless Shoulder (Photo: Business Wire) “It was wonderful to be the first user of the Exactech Stemless humeral component in Europe,” Tauber said. “I’ve used stemless implants with various systems since 2007, so I know what we are talking about and have to congratulate Exactech for this product. The user-friendly in
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