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KKR acquires 50% stake in Välinge

valingeViken, Sweden–KKR, a leading global investor, announced the signing of three agreements to ultimately acquire a combined 50% stake in Välinge. Through the agreements, KKR will acquire the two 20% stakes of the current minority owners, Kronospan and Swiss Krono Group, as well as an additional 10% stake from the founder.

The partnership with KKR will allow Välinge to invest behind new technologies in fast growing areas such as luxury vinyl tile, tool-less furniture assembly, digital micro 3D printing and wood powder technology. The former minority owners, Kronospan and Swiss Krono Group, will remain major licensees of Välinge’s technology and have played an important role in commercializing Välinge’s earlier technologies related to floor locking.

“This partnership will create a foundation for the company to take the next step in its development, and KKR’s international network together with our joint financial resources will allow us to commercialize Välinge’s technologies faster and on a much larger scale,” said Darko Pervan, founder of Välinge.

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Valinge reports all time revenues and earnings

Revenues increased with 20% to 72 MEUR (100 MUSD) and earnings improved with 40% to 34 MEUR (48 MUSD)

Viken, Sweden—Comments from the chairman Darko Pervan: We have managed to maintain a high profitability during a challenging three year period in spite of the fact that we completed our new R&D centre, moved the whole business from the old to the new R&D centre and continued to increase our R&D costs considerably. Our efforts during that time have laid the foundation for the company to deliver improved results in 2011. Continue reading Valinge reports all time revenues and earnings