KIRKBI to acquire a significant minority stake in Välinge Group from KKR

Home News KIRKBI to acquire a significant minority stake in Välinge Group from KKR

Viken, Sweden—KIRKBI, the holding and investment company of the Kirk Kristiansen family, has signed an agreement to acquire KKR’s 49.8% stake in Välinge alongside the founding Pervan family that via Pervanovo Invest AB will maintain its majority ownership of 50.2%. The partnership with KIRKBI aims to strengthen Välinge’s position as a leading industrial R&D company and flooring producer.

“I would like to thank KKR for the support they have provided us, which allowed us to unlock investments behind new technologies,” said Darko Pervan, CEO of Pervanovo Invest AB and founder of Välinge. “In the past months, several investors have shown great interest in acquiring KKR’s stake but KIRKBI was our preferred choice since they are a family-owned, longer term investor with an excellent reputation. KIRKBI has extensive expertise in industrial operations, brand building and marketing and is the perfect partner for our new flooring business. This partnership will create a long-term foundation for the company to take the next step in its development of large scale production and marketing of powder-based Woodura and Nadura floors.”

Välinge, based in Viken, Sweden, draws its roots from the deep Swedish knowledge and expertise in wood engineering and technology. The company and its employees have a long track record of developing innovative and disruptive technologies such as laminate flooring, floor and furniture locking systems such as 5G and Threespine allowing for easy assembly, and Nadura and Woodura—the new powder based flooring material. Välinge currently holds around 1,800 patents and has expanded its IP portfolio significantly over the past five years, and may obtain over 10,000 patents from its existing applications.

Must Read

Tim Hanno joins Louisville Tile

Louisville, Ky.—Tim Hanno has been appointed director of sales, South, for Louisville Tile. Since 2010, Hanno has worked as a sales leader in both the...

FCEF tackles key issues at fall meeting

Nashville, Tenn.—The Floor Covering Education Foundation (FCEF) brought together industry leaders as the group held its fall board meeting here Nov. 17-18. The FCEF...

‘Tom’s Tips:’ Utilizing the in-home advantage

https://www.youtube.com/watch?v=Dx16mTRcqvY&t=63s Dalton—The World Floor Covering Association (WFCA) released a new Tom’s Tips regarding staging and displays. In the Tom's Tips series, Tom Jennings, retail training...

NSI completes 46th R.I.S.E. home

Oberlin, Ohio—The Natural Stone Institute (NSI) provided natural stone and fabrication services for its 46th home with the Gary Sinise Foundation through its R.I.S.E....

Footprints Floors launches The First Fruits Fund

Littleton, Colo.—Footprints Floors, a 160-plus-unit flooring franchise, said it prides itself on being an organization that believes in the greater good. The brand recently...

TDG announces digital strategy for 2023

Dalton—The Dixie Group (TDG) has unveiled its digital strategy for 2023, which includes enhancing its digital capabilities by partnering with several companies to create...
Some text some message..
X