Livingstone’s Industrial sector team has advised Austrian multi-national Kronospan, in the divestment of 100% of the shares of its Spanish subsidiary Puertas Dimara Spain, SLU, to Desarrollos Empresariales.
Headquartered in Toledo, Spain, Puertas Dimara is a leading Spanish manufacturer of natural wooden and melanine doors. Kronospan, the world leader in wood based panels and laminate flooring, had acquired Puertas Dimara as part of a wider transaction with Grupo Interbon in 2012. Livingstone advised Kronospan on that acquisition. Under Kronospan’s ownership, Puertas Dimara achieved sustained growth in 2015 and a return to profitability.
Desarrollos Empresariales Tasmania, S.L., part of Grupo Dimoldura, is a specialist manufacturer of door frames. In the recent years, the Group has gone through both strong organic growth, and a buy and build strategy, acquiring companies in the sector such as Industrias Carsal, SA (now Dimoldura Doors), and Portadeza (now Aliusporta, SL). The acquisition of Dimara strengthens Grupo Dimoldura’s strategy to become the leading Spanish manufacturer of the wooden doors within the sector.
Javier Macicior, Managing Director of Kronospan Spain, commented: “The team at Livingstone provided deep sector knowledge and expertise to support us throughout the complexity of the process. They found innovative solutions to make this transaction happen with an excellent result for all the parties. The professionalism and dedication of the Livingstone team were instrumental in bringing this transaction to a successful conclusion.”
Jorge Tuñí, Associate Director of Livingstone, said: “We are delighted to have worked with Kronospan Spain’s management team again. In what remains a challenging environment, Dimara is an excellent strategic fit, as part of the Dimoldura Group, the company should continue to grow. I look forward to working with them again in the future.”