Nord Holding has sold hard floor coverings brand Parador after a holding period of under two years.
The business produces its products from its plants in Coesfeld, Germany, and Güssing, Austria. The business has been sold to building material manufacturer Hil Limited, a group company of Indian business conglomerate CK Birla Group.
Nord acquired Parador in September 2016 following its carve-out from German furniture and interior building materials manufacturer Hüls Group. At that time, Parador employed around 550 people and was set to generate revenues of over €140m for 2016.
The group currently has a workforce of around 500 people and net turnover of €150m. Across Nord’s hold, the business has set up a joint venture in China, has established a digital point of sale with various dealer networks and has opened a laminating plant.
Nord management board member Eberhard von Strenge said the firm was “proud to have successfully supported the company’s management under CEO Lubert Winnecken in the complex carve-out from the Hüls Group,” adding that as part of Hil, Parador “will be able to pursue its international expansion with even greater vigour.”
William Blair advised Nord Holdings on the deal.