Brussels, Belgium, May 30, 2018
Merodis, an independent corporate finance advisory firm, is pleased to announce that it successfully advised Kebony AS in securing FPIM’s (Federale Participatie- en Investeringsmaatschappij) investment of EUR 10m, of which EUR 7.5m in equity and EUR 2.5m in debt.
This successful private placing provides the company with the means to implement an accelerated sales and marketing plan and co-finances the doubling of its production capacity following the commissioning of its newly-built factory in Antwerp, Belgium, due to take place during Q3 2018.
Kebony AS (http://www.kebony.com) is a leading wood modification technology company producing high-end cladding and decking on an industrial scale, headquartered in Oslo, Norway, currently employing 85 people. Kebony products are sold in 32 countries. Primary markets are Scandinavia, Germany, UK, France and US. In 2017, Kebony AS generated sales of over EUR 20m.
“With FPIM’s long term commitment to growth businesses, we welcome a sophisticated new partner to Kebony. We are excited about scaling the business and to serve European customers better from Antwerp. We would also like to thank Merodis for presenting the company well, and running a tight and fast process”: says Chairman Thomas Hoegh.
All Kebony products have been treated with the Kebony technology, an environmentally friendly, patented process which enhances the properties of typical softwoods using a bio based liquid (Furfurylalcohol), enabling a cost effective transformation of fast growing sustainable softwood into high performance timber, becoming an ecological and commercial alternative for endangered tropical hardwood and environmentally damaging toxic-treated wood.
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