Bjelin Group AB—a Pervan family company that holds a 51% ownership stake in Välinge Group and full ownership of Bjelin Industries—said it is acquiring Välinge’s industrial business, which comprises largescale production of flooring made with Woodura surface technology as well as furniture production in Sweden and Croatia. The business will be merged with Bjelin Industries, a veneer, flooring and furniture manufacturer with production facilities in Croatia.
Strategic Value Partners (SVP) said it will make a €200 million preferred equity investment to finance the acquisition and provide capital for additional investments in Woodura flooring and veneer production. The acquisition is expected to be completed during the first quarter of 2025, pending customary closing conditions and governmental approval. The Pervan family will maintain a 97% ownership stake in Bjelin Group AB.
“Bjelin Industries has a key relationship with SVP’s portfolio company, Pfleiderer, a leading manufacturer of high-quality, wood-based products including HDF which is used as a core in our Woodura flooring, laminates for kitchen, furniture and construction applications,” stated Darko Pervan, chairman and founder of Bjelin Group. “We are excited about the potential to expand the collaboration.”
Fredrik Alfredsson, an experienced international flooring business executive, will be appointed CEO of Bjelin Group, Pervan added.
Brian Himot, head of structured capital at SVP, noted, “Over the past 30 years, Darko Pervan has built a leading IP licensing business and set the foundations to create a market-leading industrial manufacturing business. We are delighted to be partnering with an entrepreneur of his standing at a key moment for the development of the manufacturing business.”
According to Niclas Håkansson, CEO of Välinge Innovation AB, “Välinge and Bjelin have invested about €500 million to build largescale production and marketing capabilities, and to secure the oak material used as a surface in floors with Woodura. Our work to scale up the technology is now complete, and we are convinced our industrial group combined with Bjelin Industries will be very successful.”
Citi and Nordea acted as joint placement agents. SVP was advised by Kirkland and Ellis, Schjødt and Wolf Theiss as legal counsel. Bjelin Group was advised by Mannheimer Swartling as legal counsel.
