HIL acquires German flooring solutions Co

HIL acquires German flooring solutions Co

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HIL, a building materials manufacturer belonging to diversified CK Birla Group, has acquired Parador Holdings GmbH, a Germany based, vertically integrated, full-range supplier which designs, manufactures and distributes a wide range of flooring solutions including resilient flooring, laminate and engineered wood floors, wall & ceiling panels, skirtings and related accessories.

Parador, with the turnover of  142.2 million Euros, is the category leader in design and innovation with all products developed internally and produced with “Made in Germany” and “Made in Austria” quality. The Company has long-standing relationships with all major customers in Europe. The combined entity will continue to enjoy a leadership position in Building Material segment in India with strong capabilities in Europe. Parador has a history of profitable operations and expects sustained growth in revenues and earnings going forward.

The acquisition will enable HIL’s transition into a global player in the Building Materials segment. It will facilitate entry into Flooring Solutions, a segment, which is highly complementary to HIL’s current product portfolio and also provide a renowned brand with strong R&D and design capabilities.

The strong leadership team at the helm, at Parador will continue to be responsible for day to day operations and drive the business forward.

CK Birla, Chairman of the CK Birla Group, said: “The acquisition of Parador fits into our strategic roadmap and is an important step towards becoming a global player in the building materials industry. It also enables us to enter into adjacent categories for future growth. Parador’s strong developmental capabilities will enable us to build flooring solution products suited to India and South East Asian markets.”

The acquisition comes at an attractive valuation and remains subject to antitrust filings in Germany and other relevant regulatory approvals.