DESSO Group BV, with headquarters based in the Netherlands, today owned by NPM Capital and current management, announces that NPM Capital and Desso's Management Board have the intention to sell the company to Bencis Capital Partners, whereby the current management will continue to invest in the company. This intended transaction will take place under certain conditions, including that the relevant competition authorities approve this transaction and that financing by the banks will be approved. The relevant Works Councils have received this planned decision for review and advice.
Stef Kranendijk, CEO DESSO Group: "In NPM Capital we have an excellent shareholder, who has always actively supported the Management Board in the execution of its plans. Despite the economic crisis, Desso's market share and profitability have developed from year to year very favorably over the past four years. We thank NPM Capital for the terrific cooperation over the past four years".
Thanks to its focus on innovation and sustainability, Desso is renown for its exceptional designs, its unique Cradle to Cradle® approach and its patented products such as DESSO AirMaster® (which reduces fine dust in the air), DESSO EcoBase® (which enables complete upcycling of carpet tiles) and DESSO GrassMaster® (soccer pitches of natural grass strengthened by artificial grass, which are present in the top stadiums of the world, most recently installed at Wembley). In addition, Desso is considered to be one of the most aspiring branded residential textile flooring companies in Europe with consumer brands Parade, Bonaparte and Desso.
Kranendijk continues: "Desso has been approached by Bencis Capital Partners, who wish to become a shareholder and support the further development and growth of the Desso business. Next to strengthening our position as leading player in Europe we see major opportunities to grow our business in Latin-America and Asia with our strong product portfolio. NPM Capital and the Management Board have positively accepted the offer of Bencis Capital Partners and intend to fully support the timely completion of the intended transaction. We are impressed by our new partner and are convinced that Bencis Capital Partners will actively cooperate to further develop the profitable growth of Desso and its outstanding and highly motivated colleagues".
Bencis Capital Partners (www.bencis.nl) is a reputed Dutch private equity firm that invests in companies with net sales of between € 30 to 500 million.