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EQS-Adhoc: Bauwerk Parkett AG: EGS Beteiligungen becomes majority shareholder of Bauwerk Boen Group


EQS Group-Ad-hoc: Bauwerk Parkett AG / Key word(s): Acquisition
Bauwerk Parkett AG: EGS Beteiligungen becomes majority shareholder of Bauwerk
Boen Group

18-Jan-2018 / 07:30 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

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Press Release

EGS Beteiligungen becomes majority shareholder of Bauwerk Boen Group

St. Margrethen, 18 January 2018 - EGS Beteiligungen AG (a subsidiary of Ernst
Göhner Foundation; "EGSB") takes over all the shares of Bauwerk Boen Group from
ZM Opportunity II L.P., a fund advised by Patrimonium Private Equity (formerly
Zurmont Madison Private Equity), to become a long-term majority shareholder with
64.8 % of the equity capital. Johan G. Olsen Group, a Norwegian conglomerate,
will remain shareholder with its current stake of 33.2 %. 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 was originally founded by Ernst Göhner in 1944 and has since
evolved from a regional player into 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. This was possible not least
thanks to the takeover of Bauwerk Parkett AG by Zurmont Madison Private Equity
and EGSB in 2009. The commitment and financial investment by these partners
created the prerequisite for Bauwerk's international expansion and growth
strategy, including the 2013 merger with Norwegian Boen AS to found the Bauwerk
Boen Group. Volumes increased from 3.5 million square meters in 2010 to over 9.5
million square meters annually. The Bauwerk Boen 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 the long-term
aegis of CEO Klaus Brammertz and there will be no changes to the successful
Group strategy. Klaus Brammertz is convinced "that with the measures we have
implemented over the past years, including production optimization and
efficiency measures, the Bauwerk Boen Group is well positioned to continue on
the growth path, gain further market shares and achieve sustainable profit
improvements." Following the merger 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 realise better
capacity utilization.

Werner Schnorf, Managing Director of Patrimonium Private Equity and Chairman of
Bauwerk Boen Group, commented: "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 Bauwerk Parkett AG
from a niche player with a regional reach into Bauwerk Boen as 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 onto a committed partner who will continue to support the
Group in its further development."

Dominik Sauter, Managing Director of EGSB added: "Having been a co-owner since
2009 and supporting the company in its international expansion strategy, we now
look forward to accompany Bauwerk Boen Group as a long-term oriented majority
shareholder into the next development phase. We are convinced that the company
will be able to further successfully build on its strong position and achieve
sustainable profitability in an overall healthy market development."

For more information, please contact:
Klaus Brammertz, CEO Bauwerk Boen Group
Email:klaus.brammertz@bauwerk-boen.com, Telephone +41 71 747 72 79
Dominik Sauter, Managing Director EGS Beteiligungen AG
Email:dominik.sauter@egs-beteiligungen.ch, Telephone +41 44 250 75 00

About Bauwerk Boen Group
Bauwerk Boen Group is 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. With sold volumes of over 9.5 million square
meters annually, the Group offers a complementary portfolio of two- and
three-layer parquets as well as wooden sports flooring under the two brands
Bauwerk and Boen. The key markets Switzerland, Norway and Germany as well as
Austria, Scandinavia, the UK, France, China and the US are being served by local
subsidiaries. The Asian region is served from Hong Kong by Bauwerk Boen Group
Asia Ltd., which was established in January 2015. Administrative headquarters of
the Group are located in St. Margrethen, Switzerland. The production locations
are currently concentrated in St. Margrethen and Kietaviškės, Lithuania, while
the Group is building up a further parquet factory in Croatia in order to
sustainably secure raw materials' supply as well as realise better capacity
utilization. During the financial year 2016, the Bauwerk Boen Group generated a
net turnover of CHF 280 million and employed around 1'900 people.
www.bauwerk-boen.com

About EGS Beteiligungen AG
EGS Beteiligungen AG (EGSB) is a long-term oriented holding company and invests
in Swiss companies from the industrial and service sector. EGSB pursues the
following objectives:
Sustainable positive development of the shareholdings, preservation and further
development of the assets of the Ernst Göhner Foundation and gaining an
appropriate return on investment to finance non-profit projects. EGSB finances
growth and buyout projects of profitable medium-sized and large private and
listed companies with a turnover of at least CHF 50 million. As a long-term
oriented partner, EGSB takes an active influence on the company.
http://www.ernst-goehner-stiftung.ch

About PATRIMONIUM
PATRIMONIUM is an independent Swiss alternative asset management company active
in real estate, private debt, infrastructure and private equity. On behalf of
institutional and private investors, PATRIMONIUM and its affiliates manage
approx. CHF 3bn in assets. PATRIMONIUM employs 50 investment professionals and
operates offices in Echandens/Lausanne, Zurich and Baar/Zug.www.patrimonium.ch

About Johan G. Olsen Group
Johan G. Olsen AS (JGO) Group has its main business through the 100% ownership
of the international Jiffy Group, and the financial investment through its 33.2%
shareholding in the Bauwerk Boen Group. Jiffy Group is an international leading
company within growing media to the professional horticulture industry with
production and sales organized through own subsidiaries in Canada, Denmark,
England, Estonia, France, Japan, Netherlands, Norway, Spain, Sri Lanka, Sweden,
Germany and the United States. Before the merger of Boen with Bauwerk Parkett
into Bauwerk Boen AG, JGO had developed Boen Lithuania to one of Europe's
largest and most cost-effective parquet production units. www.jiffygroup.com

Additional features:


Document:http://n.eqs.com/c/fncls.ssp?u=FXJRWCTMKW
Document title: EGS Beteiligungen becomes majority shareholder of Bauwerk Boen
Group
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End of ad hoc announcement------------------------------------------------------

Language: English

Company:  Bauwerk Parkett AG

          Neudorfstrasse 49

          9430 St. Margrethen

          Switzerland

Phone:    +41 71 7477474

Fax:      +41 71 7477423

E-mail:   info@bauwerk.com

Internet: www.bauwerk.com

ISIN:     CH0207961084

Listed:   SIX Swiss Exchange



 

End of Announcement EQS Group News Service

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646183  18-Jan-2018 CET/CEST

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