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:
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."
About Fiora
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, Săo 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:
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. |