Faus’ Juan Flores was part of the management team that bought the company.

By Matthew Spieler
Gandia, Valencia, Spain—The Faus family and 3I have sold the Faus Group to members of the laminate maker’s top management team lead by Juan Negre, chairman and CEO, and Juan Flores, president, and Corporacion Caixa Galicia, a strategic investment company related to the wood panel industry and similar fields.

The leveraged buyout was funded mostly with cash, though financial details were not disclosed. The other members of the management team are Juan Lledo, sales and marketing director; Vicente Mengot, CFO, and Eugenio Cruz, chief manufacturing officer.

“The change in ownership comes at a crucial moment to support global expansion of the company,” said Negre. “This change also represents a vote of confidence to the present leadership as well as to the business plans and strategies that are being successfully implemented.”

Flores said the buyout was for the entire Faus Group, which includes three manufacturing facilities—one at its world headquarters here, one in Calhoun, Ga., and the newly opened one in Shanghai, China ( FCNews, April 17/24), along with all the intellectual properties and other assets. “The name, logo and management stay the same, together with our existing strategy.”

The company currently employs 1,200 people and has annual revenues of $225 million. But, he noted, this deal will allow Faus to grow. Within the U.S., “the new ownership will positively impact the company’s partnerships with key customers because we now have a stronger board to support our business plans and investments behind our key partners.”

A new partner was just signed on in the Roane Co., which started distributing Faus’ products this month in Southern California, southern Nevada and Arizona. In business since 1947, the wholesaler will carry the Fausfloor Masterpieces, Essentials and Classic Americana collections.

“Roane’s stated goal is to provide clients with the highest quality of products available, at fair and competitive price points and with the highest levels of accuracy, timeliness and professionalism,” said Allen Smith, corporate general manager. “Without a doubt, Faus products meet this criteria and are a perfect fit for both our company and our customers.”

Beyond the U.S., Flores said the new Faus will also be strong. For example, in China, “this further supports our growth plans in our Shanghai operations where we plan to double our production capacity in the next year.

“Faus remains one of the last independent, full focus laminate flooring manufacturers in the world,” he concluded. “This adds clarity to our business plans and strategy related to partners and customers in the industry.”

For additional information on Faus and its products, call 706/879-4120.