We have advised Amorim Cork Flooring and its minority owners on the sale of Timberman Denmark A/S (Timberman) to Salix Group AB, part of Swedish industrial conglomerate Volati AB.
Timberman is Denmark's leading supplier of high-quality hard floor coverings in wood, vinyl, and cork, targeting the quality-conscious intermediate segment of private customers, companies, and public clients.
Founded in 2001, after a management buy-out from Trip Trap Denmark, Timberman specialises in developing, marketing, and selling quality flooring at a fair price.
Headquartered in Hadsund, Jutland, Timberman has been majority-owned by and Amorim Cork Flooring since 2011. Amorim Cork Flooring is backed by Portuguese listed Corticeira Amorim, the world's largest manufacturer of cork products, including cork floors, which are amongst others sold under the Wicanders brand.
Salix Group AB is an active, committed, and long-term owner of trading businesses that offers products primarily for the building and industrial sectors. Salix Group is part of the Swedish industrial conglomerate Volati AB, which is listed on Nasdaq Stockholm.
Under the new ownership, Timberman will strengthen its growth in Denmark and Sweden, while Salix Group, with its new flooring product branch, will strengthen its position in the Nordics.
