H.I.G. European Capital Partners LLP
H.I.G. European Capital Partners LLP: Graz-based prefabricated house manufacturer Green Building Group expands into Slovenia and Italy
H.I.G. European Capital Partners LLP / Key word(s): Acquisition/Merger
With the acquisition of Maribor based Lumar IG, a market leader in Slovenia with a strong presence in Italy, The Green Building Group takes the next step on its way to becoming a European market leader in environmentally friendly construction London/Graz/Maribor – February 6, 2012 The Green Building Group GmbH (‘Green Building Group’), an H.I.G. Capital portfolio company headquartered in Graz, Austria, announced today that it has acquired a majority stake in Lumar IG d.o.o. (‘Lumar’), the leading Slovenian manufacturer of prefabricated houses. As part of the transaction, Lumar’s founding owners, the Lukic family, have taken a stake in Green Building Group. Lumar will continue to manufacture from its highly efficient site in Maribor and will maintain its well-known brand under the umbrella of Green Building Group. The Green Building Group was founded in August 2011 with the acquisitions of the Hanlo Group and HAG. The acquisition of Lumar represents a key step by the Group in its strategy to become a leader in environmentally friendly construction through both organic growth and further targeted acquisitions. Lumar complements the Green Building Group with its premium products and strong presence in Slovenia and Italy. Lumar’s founder Milan Lukic and his son Marko Lukic, the current CEO, will take charge of the Green Building Group’s operations in Southern Europe. Terms of the transaction were not disclosed. With the construction of more than 100 houses in 2011, Lumar is a market leader in Slovenia. The company also has a strong presence in Italy with its brand Lumar Biohaus. In addition to family homes, the company has significant experience with commercial projects, including schools, and has a well-established reputation for high quality and architectural sophistication. Dr. Wolfgang Marka, CEO of Green Building Group, will work closely with Milan and Marko Lukic to integrate Lumar into the group and identify existing synergies. ‘Lumar is an ideal addition to the Green Building Group and Milan and Marko Lukic are a highly experienced management team. I look forward to working with them to grow our business in Southern Europe,’ said Dr. Wolfgang Marka, CEO of Green Building Group. Milan Lukic, founder of Lumar, said: ‘The integration of Lumar into Green Building Group is an exciting opportunity to broaden the company’s geographic reach and accelerate its growth with a strong partner.’ As part of the acquisition, the Green Building Group gains a strong Austrian financing partner with international experience – BAWAG P.S.K. In addition to providing acquisition financing for Lumar, BAWAG has refinanced the entire Green Building Group’s debt and will also support the group in its organic growth as well as in future acquisitions. ‘The acquisition of Lumar is an important step in our buy-and-build strategy to consolidate leading environmentally friendly prefabricated housing companies under the umbrella of the Green Building Group. Lumar has an excellent reputation and is the perfect addition to Green Building Group’s product portfolio. It is also of great value to us to have brought on board BAWAG as a highly supportive and knowledgeable financing partner for further acquisitions’, said Thomas Scriven, Principal at H.I.G. and member of the Green Building Group’s supervisory board. Media contact Max Hohenberg Nicholas Wenzel About Lumar Lumar is a market-leading provider of energy-efficient prefabricated houses in Slovenia. The Company’s headquarters and production are in Maribor, with international distribution outlets in Italy and France. Lumar markets its houses under the Lumar and Lumar Biohaus brands. Lumar has a strong track record in commercial projects, including schools, and stands for exceptional quality and architectural sophistication. www.lumar.si About Green Building Group The Green Building Group was established with the aim of consolidating European manufacturers of environmentally friendly prefabricated houses. In August 2011, Green Building Group took the first step in this strategy, acquiring the Hanlo Group and HAG. Green Building Group is headquartered in Graz, Austria, with two production sites in Germany, in Freiwalde and Ziesar, and one in Austria in Piesting. With a turnover in excess of EUR70 million, Green Building Group is a market leader in prefabricated construction in the German-speaking region. http://www.greenbuildinggroup.eu/ About H.I.G. Capital H.I.G. Capital is a leading global private equity investment firm with more than EUR8 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, New York, and San Francisco in the U.S., as well as affiliate offices in London, Hamburg and Paris in Europe, H.I.G. specialises in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well-managed manufacturing or service businesses. 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 50 companies with combined revenues in excess of EUR6 billion. For more information, please refer to the H.I.G. website at www.higcapital.com. End of financial news 06.02.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. 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Language: | English | |
Company: | H.I.G. European Capital Partners LLP | |
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Internet: | www.higcapital.com | |
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