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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.

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Välinge grants 2G, 5G licenses for LVT, wood offerings

valinge logoViken, Sweden — Välinge announced that the Chinese company Zhejiang TianZhen Bamboo & Wood Development Co., Ltd. T & Z has entered into a global non-exclusive license agreement with Välinge for the use of locking systems in luxury vinyl tile (LVT) and wood flooring products.

Zhejiang TianZhen Bamboo & Wood Development Co., Ltd., T & Z, based in Zhejiang Province, China, began manufacturing LVT click flooring in 2010 and recently signed a license with Välinge for mechanical locking systems in wood, wood plastic composite and LVT flooring.

The license granted by Välinge also includes Classen’s IP rights relative to fold down locking systems as well as Mannington’s IP rights relevant for LVT floorings with a mechanical locking system.

T & Z is also granted the right to start production and sales of wood and wood plastic composite, WPC, flooring products with 2G and 5G locking systems to offer products with fast, easy installation and robust locking of the panels.

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Välinge Group acquires all flooring technology shares

Viken, Sweden—Välinge Invest AB, owned by the family Perván, and Nordstjernan Investment have agreed that Välinge Invest will acquire all Nordstjernan’s shares in Välinge Flooring Technology (VFT), which is the parent company of the Välinge Group (Välinge).

The Parties have agreed to settle all disputes. Continue reading Välinge Group acquires all flooring technology shares