Building & Construction, News

Boen AS and Bauwerk Parkett AG merge to form Bauwerk Boen Group

The new group will be Europe’s leading provider in the premium segment and the second-largest player in the wood flooring market with combined sales of around EUR 230 million.

Picture: Thorleif Hals, CEO of Boen: “I have not in my 30 years of international experience seen such a merger between two of the strongest players in a market segment with so many upsides for customers.”

 

Boen AS (“Boen”) from Kristiansand/Norway and Bauwerk Parkett AG (“Bauwerk”) from St. Margrethen/Switzerland are merging under the name Bauwerk Boen Group. The expansion of the complementary market positions of the two brands will strengthen the competitiveness of the group and provide customers with a wider range of high quality wood flooring products.

The new group will be headquartered in Zurich/Switzerland and will be run by an executive management team made up by 7 members from the two former management teams and headed by the former Bauwerk CEO Klaus Brammertz. Thorleif Hals, CEO of Boen, will be Head of Integration and Deputy CEO.

In the last financial year the two companies produced a combined volume of more than 8 million square meters of wooden floor coverings, employed some 1,400 people and generated sales of around EUR 230 million. Once the transaction has been completed, the current owners of Boen, the Johan G. Olsen Group, and Bauwerk, Zurmont Madison and EGS Beteiligungen AG, will each hold around one-third of the new group.