Business Wire

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


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

* 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

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Elliott Advisors (UK) Limited Statement on Telecom Italia23.3.2018 07:00Pressemelding

Given the momentum behind Elliott's campaign at Telecom Italia to improve both performance and governance, Elliott was not surprised to see yesterday's resignation of seven board members affiliated with Vivendi. Unable to advance any meritorious arguments, the Board has simply abandoned their posts to stall for time. Elliott regards this action as cynical and self-serving, in that it delays the ability of Telecom Italia shareholders to express their votes at the upcoming AGM. This is yet another example of minority shareholder rights at Telecom Italia being abrogated and the continued disregard of corporate governance best practice. Finally, Vivendi should note Elliott's forty-year track record of consistent value creation, and sustained, long-term commitments to expose poor governance and catalyse positive change; Elliott's investment history in Telecom Italia dates back to 1999, well before Vivendi became a shareholder in the Company. About Elliott Elliott Management Corporation mana

Smiths Detection Hold Baggage Scanner Meets Highest Security Standards in EU23.3.2018 07:00Pressemelding

The Smiths Detection HI-SCAN 10080 XCT has achieved ECAC approval as a Standard 3.1 explosives detection system for hold baggage – the highest, defined security standard in the EU. This significant advance was made possible by using a dual-view, dual-energy line scanner with high resolution 3D Computed Tomography (CT) to deliver exceptional data. This press release features multimedia. View the full release here: Smiths Detection HI-SCAN 10080 XCT (Graphic: Business Wire) This achievement gives airports currently upgrading to Standard 3 technology, the option to increase detection levels even further to 3.1; and any standard 3 systems already installed can be easily elevated to 3.1 via a software upgrade. The detection algorithms are interchangeable on a bag by bag basis depending on the destination and associated risk level. This offers additional flexibility and productivity. “With the capability to meet detection requirements

Sofinnova Partners Leads SafeHeal’s €6 Million Series a Financing Round23.3.2018 07:00Pressemelding

SafeHeal, an early-stage medtech company specialized in digestive surgery and focused on the development of the Colovac device, announces today that it has closed a €6 million Series A financing round led by Sofinnova Partners. Based in Paris, SafeHeal develops an innovative digestive anastomosis protection device, called Colovac, designed to reduce complications and obviate the need for ostomies for colectomy patients. This technology consists of a minimally invasive and fully reversible implant that remains in place until the body’s natural healing and tissue repair processes are complete, for approximately two weeks, after which it is removed. SafeHeal’s device has the potential to radically transform the market while significantly improve patients’ quality of life by enabling them to resume their normal life without having to bear an artificial anus and wear ostomy pouches for several months. About 270,000 colectomy patients receive an ostomy every year in Europe and the USA, repre

Ipsen Receives Positive CHMP Opinion for Cabometyx® (cabozantinib) for the First-Line Treatment of Adults with Intermediate- or Poor- Risk Advanced Renal Cell Carcinoma23.3.2018 06:00Pressemelding

Regulatory News: Ipsen (Euronext: IPN; ADR: IPSEY) announced today that the Committee for Medicinal Products for Human Use (CHMP), the scientific committee of the European Medicines Agency (EMA) provided a positive opinion for Cabometyx® (cabozantinib) 20, 40, 60 mg for the first-line treatment of adults with intermediate- or poor- risk advanced renal cell carcinoma (aRCC).The CHMP positive opinion will now be reviewed by the European Commission (EC), which has the authority to approve medicines for the European Union (EU). Alexandre Lebeaut, Executive Vice President, R&D and Chief Scientific Officer said: “Today’s positive opinion from the CHMP is important news for patients with previously untreated advanced renal cell carcinoma, who can shortly benefit from Cabometyx ® as a new first-line treatment option. Following the evidence of its clinical value after a prior VEGF-targeted treatment, we are pleased to be able to expand the benefit of Cabometyx ® for treatment-naïve patients wit

Swiss Wearable Brand MyKronoz Breaks Worldwide Records with its Hybrid Smartwatch ZeTime, on the Sidelines of a Challenging Baselworld 201822.3.2018 16:32Pressemelding

On the sidelines of a downsized Baselworld 2018, MyKronoz, the premier watchmaking brand of the smart generation today announces record-breaking crowdfunding results of its hybrid smartwatch ZeTime, with more than $8,000,000 raised in less than a year. The international success of its unique and groundbreaking flagship wearable is followed by the release of a new digital video campaign “I’m a watch; I’m a smartwatch”. This press release features multimedia. View the full release here: MyKronoz ZeTime Petite & Regular top $8M in crowdfunding (Photo: Business Wire) After a historic 35-days Kickstarter campaign launched in March 2017, ZeTime has pursued, since then, its crowdfunding journey on a variety of international and local platforms: Indiegogo, Makuake in Japan, Zec Zec in Taïwan, Wadiz in Korea and on the leading chinese e-commerce website Further to this online momentum, MyKronoz has successfully shipped to over 10

Redwood Software Announces First Industry Robotic Licensing Model to Revolutionize Transparent Marketplace Pricing22.3.2018 14:59Pressemelding

Redwood Software, the pioneer behind ‘The Robotic Enterprise’, today announced the launch of a revolutionary new robotic licensing model, where customers only pay for the robotic services they consume within their business. Available now, this new licensing model allows customers to directly compare the costs of manual work against processes that are robotized. With the unique Robotic Service Charge, Redwood only charges for the delivery of a robotic service, equivalent to a unit of work that can done by a person (send an email, download a report, reconcile two reports etc.). Redwood delivers a catalogue of 35,000 of these ready built robotic services that can be linked together by business users in a visual plug and play interface. End-to-end business processes can be modelled, robotized, tested and deployed without cost and risk. Only when the robotic service is consumed is a charge made, always replacing work that would otherwise be done manually. Within the Robotic Service Charge,