Strategic Value Partners, LLC (together with its affiliates, “SVP”), a global alternative investment firm with approximately $19 billion of assets under management, and Bjelin Group have announced the signing of an agreement whereby funds managed by SVP will make a €200 million preferred equity investment in Bjelin Group to facilitate its long-term growth ambitions.Bjelin Group AB is fully owned by the Pervan family and its assets comprise a 51% ownership stake in Välinge Group and a 100% ownership stake in Bjelin Industries. 49% of the shares of Välinge Group are owned by KIRKBI Invest A/S and Välinge Group management.
Välinge Group has two business segments. A licensing business for flooring and furniture applications (Välinge Innovation AB) and an industrial business with large scale production of flooring with Woodura surface technology and furniture in Sweden and Croatia. Bjelin Industries is a veneer, flooring and furniture manufacturing business with production facilities in Croatia.
Bjelin Group AB will acquire all shares in Välinge’s industrial business, which will be merged with Bjelin Industries. The acquisition is expected to be completed during the first quarter of 2025, pending customary closing conditions and governmental approval.
Funds managed by SVP will make a €200 million preferred equity investment in Bjelin Group to finance this acquisition and provide capital for additional major investments in Woodura and veneer production with the aim to create a world leading sustainable wood flooring company. The Pervan family will maintain an ownership stake of 97% in Bjelin Group AB.
Välinge Innovation AB, which is a leading R&D, IP and licensing company, mainly related to flooring and furniture technology, anticipates that it will seek a public listing at the appropriate time as the potential high growth of Woodura flooring is expected to benefit Välinge’s license revenues. “Our partnership with SVP is more than a financial investment. Bjelin Industries has a key relationship with SVP’s portfolio company, Pfleiderer, a leading manufacturer of high-quality wood-based products including HDF which is used as a core in our Woodura flooring, laminates for kitchen, furniture, and construction applications,” said Darko Pervan, Chair and founder of Bjelin Group.
“We are excited about the potential to expand the collaboration between Pfleiderer and Bjelin with a wide range of potential commercial and technical cooperation opportunities. Fredrik Alfredsson, who has a long international experience within the flooring business, will be appointed CEO of Bjelin Group.”
Brian Himot, Head of Structured Capital at SVP, said: “Over the past 30 years, Darko Pervan has built a leading IP licensing business and set the foundations to create a market leading industrial manufacturing business.
“We are delighted to be partnering with an entrepreneur of his standing at a key moment for the de
