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H.I.G. Capital Announces a Strategic Investment in Royo Group

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H.I.G. Europe (“H.I.G.”), the European arm of global private equity firm H.I.G. Capital, announced today that it has completed a significant equity investment in Royo Group, a multinational company specialising in bathroom furnishings and appliances. Terms were not disclosed.

Royo Group currently has 650 employees at its factories in Quart de Poblet (Valencia, Spain), Sztum (Poland) and Mexico City (Mexico). It operates in 60 countries, with 80% of its revenues generated outside of Spain. The company's management team will remain at the helm, led by Raúl Royo, who has been CEO since 2008.

Jaime Bergel, Managing Director, H.I.G. Europe in Spain, stated: “We believe the Royo Group is a very attractive investment opportunity. We are delighted to be able to support the outstanding work carried out by the Royo family in recent years, which has transformed the group into one of the leading companies in its sector. Its strong, experienced management team has expertly grown the company during periods of prosperity, as well as during the economic crisis and real estate slump, thanks to its international presence. Royo Group is the ideal platform to spearhead growth through acquisitions and become a major player in the consolidation of what is currently a highly fragmented sector in Europe."

Raúl Royo, Royo Group CEO, said: “Our goal with this equity investment by H.I.G. is to become the European leader in the production of bathroom furnishings and strengthen the company's footprint in other areas of the bathroom appliances segment. H.I.G.’s equity investment forms part of Royo’s Strategic Plan One 2020 framework, which is now being rolled out. Work is underway to analyze and study possible acquisitions to drive the inorganic growth of the company envisaged in the strategic plan. We will seek to acquire a greater foothold in the European markets in which we are least present."

About the Royo Group

Royo Group, a multinational specialising in bathroom furnishings and appliances (hydro massage baths, shower columns and trays), is considered the third largest bathroom furniture company in Europe and the leader in Spain. The company has 650 employees at its factories in Quart de Poblet (Valencia, Spain), Sztum (Poland) and Mexico City (Mexico). The Group, led by Raúl Royo, has a history spanning back 44 years and holds an unrivalled market position, becoming a global company present in 60 countries and with 80% of revenues generated internationally. Currently, the company manufactures around 874,000 (furniture, ancillaries and mirrors) units at its three production facilities and has more than 10,000 points of sale worldwide.

About H.I.G. Capital

H.I.G. is a leading global private equity and alternative assets investment firm with €19 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 Hamburg, London, Luxemburg, Madrid, Milan, Paris, Rio de Janeiro, Bogotá and Mexico City, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and op-erationally focused/ value-added approach:

1. H.I.G. Capital’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.

2. H.I.G. Capital’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.

3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of €22 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

Contact information

H.I.G. European Capital Partners Spain, S.L.U.
Jaime Bergel, +34 91 737 50 50
Managing Director
jbergel@higcapital.com

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