LEGO Group owner KIRKBI takes $417mn, 49.8% stake in Välinge from KKR

By Johan De Mulder

The Kirk Kristiansen family, majority owners of the LEGO Group, have acquired a 49.8% stake in Swedish industrial R&D firm Välinge for €417mn.

KIRKBI, the family's investment company, has acquired the stake from KKR, the global investment firm which has earned a significant profit having bought the same interest for €167mn two years ago.

The agreement fits with KIRKBI's strategy of concentrating investment on flourishing businesses in northern Europe, with its focus expected to be on supporting the international commercialisation of Välinge's products.

See also:


Välinge, which was founded in 1993, specialises in wood engineering and technology and currently holds 1,800, though this number is set to increase to over 10,000 in the coming years.

"We are very excited about the new ownership cooperation, which will help us continue the development and global roll-out of new technologies and ultimately benefit our customers and end-users," said Niclas Håkansson, its CEO.

Thomas Lau Schleicher, Chief Investment Officer at KIRKBI, added: "We are very satisfied to be a part of the ongoing journey for Välinge.

"The company has demonstrated a strong ability to create value through the floor locking IP developed for its customers and partners in the flooring industry. But most importantly, Välinge's transformation from a technology-based to a more industrial company across many categories of surface technology will provide new, attractive revenue streams."

Share
Share

Featured Articles

Top 10 largest revenue generating family businesses in MENAT

From the UAE to Turkey, these family firms are the largest by revenue in MENAT and cover everything from energy to entertainment

Top 10 metaverse projects in the UAE, including world firsts

As Accenture predicts the metaverse will fuel a US$1 trilion commerce opportunity by 2025, we round up 10 pioneering metaverse projects in the UAE

PwC’s survey shows Middle East CEOs remain upbeat on growth

CEOs in the Middle East are far more optimistic about regional growth than those in North America and Europe, according to PwC’s annual survey

Opinion: “Why we must tackle the digital skills crisis"

Leadership & Strategy

5 Mins With: Kathryn Kaminsky Vice Chair Trust Solutions PwC

Leadership & Strategy

Survey: The Future of Cloud Security in the Middle East

Technology