ZM Opportunity II L.P., a fund advised by
Patrimonium Private Equity (formerly Zurmont Madison Private Equity) sells its shareholding in
Bauwerk Boen Group to EGS Beteiligungen AG, Zurich (a subsidiary of Ernst Göhner Foundation;
“EGSB”). With this transaction, following its transition into Europe’s leading parquet flooring company, Bauwerk Boen Group becomes a major investment within EGSB’s portfolio.
Bauwerk Parkett AG, a Swiss parquet manufacturer, was founded by Ernst Göhner in 1944 and turned into the Swiss market leader with good positions in the rest of German-speaking Europe. In
2009, Zurmont Madison Private Equity and ESGB acquired the shares of Bauwerk Parkett AG from Nybron Flooring International Corporation, with a 55%, respectively 45%, interest. With the commitment and financial investment by the new owners, Bauwerk’s international expansion and
growth strategy accelerated. This included innovative new products, shorter time-to-market and the expansion of the market position in Germany. In 2013, the acquisition of the large Norwegian Boen AS added strong market positions in Northern Europe, subsidiaries in the USA and Asia and a modern production facility in Lithuania. The Bauwerk Boen Group became Europe’s leading developer, manufacturer and supplier of parquet flooring in the premium segment as well as the second-largest market participant in wood flooring. Volumes increased from 3.5 million square meters in 2010 to over 9.5 million square meters annually. The Group today offers a complementary portfolio of two- and three-layer parquets as well as wooden sports flooring under the two brands Bauwerk and Boen.
The Bauwerk Boen Group management team will remain unchanged under Klaus Brammertz, CEO since 2009, and the successful Group strategy is continued. Klaus Brammertz commented: “Thanks to the financial, operational and strategic commitment by Patrimonium Private Equity and ESGB, we were able to embark upon and implement a growth strategy that turned Bauwerk into the European market leader. With the various measures we have implemented over the past years, including production optimization and efficiency measures, the Bauwerk Boen Group is well-positioned today to continue on the growth path, gain further market shares and achieve sustainable profit improvements.” Following the integration of the two companies Bauwerk Parkett AG and Boen AS,
the Group relocated production from Salzburg (A) to Kietaviškės (Lithuania), invested into the modernisation of the St. Margrethen (CH) facilities and is currently building up a state-of-the art parquet factory in Croatia to secure sustainable raw materials’ supply as well as realize better capacity utilization.
Werner Schnorf, Managing Director of Patrimonium Private Equity and Chairman of Bauwerk Boen Group, added: “It was an exciting challenge to accompany and support the development of the Bauwerk Boen Group into a new dimension over the past 8 years. According to our buy and build strategy, we provided financial backing and our industrial know-how to consequently develop the company from a niche player with a regional reach into a leading pan-European parquet flooring manufacturer. As the Group now has the size and stability to successfully execute on the strategic path taken, we are happy to pass our shareholding on to a committed partner who will continue to support the Group in its further development.”