Invext Corporation, the family office of the founding family of the bathroom furniture manufacturer Royo, which a few months ago ceded the majority of the group to the giant in the bathroom sector Roca, has closed the sale of the shower tray firm Fiora in which it participated together with HIG to The Engineered Stone Group, the manufacturer of these equipment formed by the British fund Cranemere.
The operation follows the agreement reached between the US fund HIG Capital and the Royo family to give the Roca Group entry into Royo in March of this year. With approximately 140 employees, Fiora operates from its headquarters in La Rioja, with four warehouses throughout Europe.
Invext maintains its participation in Royo and consolidates its partner relationship with Roca Group in an alliance that aims to lead the world in bathroom furniture, with Royo being Roca’s competence center for bathroom furniture.
Santiago Royo, CEO of Invext Corporation, has indicated that “this operation will allow us to accelerate Invext’s strategic plan, focusing on our main investment lines such as real estate, logistics, capital markets, investment in funds of private equity and venture capital “.
In this sense, since its creation in 2007, the family office of the Royo family has carried out different investment operations in the aforementioned sectors, among which its contribution as founding partners in the Silicius Socimi stands out, which will soon be listed on the BME. Growth.
For its part, Cranemere strengthens The Engineered Stone Group as the largest manufacturer of shower trays in Spain and one of the main in Europe.
The investment firm last year closed the purchases of the also Valencian companies Acquabella, F&D and McBath, which added the Swedish manufacturer Marmite. In addition, it has just announced the purchase of Nuovvo, based in Redován, from Alicante. Nuovvo employs more than 120 people today.