KKR, a global investor, has announced the signing of three agreements to ultimately acquire a combined 50% stake in Välinge, a Swedish industrial R&D company founded and owned by the Pervan family. Through the agreements, KKR will acquire the two 20% stakes of the current minority owners, Kronospan and Swiss Krono Group, as well as an additional 10% stake from the founder.
The partnership with KKR will allow Välinge to invest behind new technologies in fast growing areas such as LVT flooring, tool-less furniture assembly, digital micro 3D printing and wood powder technology. The former minority owners, Kronospan and Swiss Krono Group, will remain major licensees of Välinge’s technology and have played an important role in commercialising Välinge’s earlier technologies related to floor locking.
Välinge currently holds around 1,300 patents, and has expanded its IP portfolio significantly over the past five years, with over 12,000 applications in the pipeline today. The company is based in Viken, Sweden, and boasts a state-of-the-art research facility which employs 100 expert employees and researchers. The company has invested over SEK 1,000m in R&D over the last five years.
The transaction will be funded primarily from KKR’s European Fund IV. No financial terms were disclosed.
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