Pervanovo Invest has entered into an agreement with Strategic Value Partners
Pervanovo Invest has entered into an agreement with the British private equity firm Strategic Value Partners (SVP) and secured financing of up to approximately EUR 200 million to its subsidiary Bjelin Group, which is the principal owner of Välinge Group and the sole owner of Bjelin Industries. The financing is done through a new issue of preference shares in Bjelin Group. Pervanovo Invest remains as majority owner after the issue.
Välinge Group has two business lines, one of which is a licensing business and the other is a large-scale production of floors, using Woodura® technology, and furniture in Sweden and Croatia. Bjelin Industries manufactures and sells veneer, floors and furniture based in Croatia. The financing will be used by Bjelin Group, among other things, for internal restructurings, where the manufacturing operations of Välinge Group will be acquired by and integrated with the existing manufacturing operations of Bjelin Industries, and for further investments in the manufacturing operations.
Bjelin Group and Pervanovo Invest are being advised by Mannheimer Swartling in connection with the transaction.