WAHL's Corporate & M&A and EU &Competition teams led by partners Branko Skerlev and Marko Kapetanović advised VÄLINGE on its acquisition of controlling stake in SPIN VALIS. Acquisition was done through Croatian subsidiary VALINGE CROATIA d.o.o. The acquisition was approved by the Croatian Competition Agency during Phase I.

VÄLINGE is an R&D and IP company, pioneer of glueless click flooring. VÄLINGE’s technology base covers all fields related to floating flooring, but also to other applications such as furniture and surfaces. VÄLINGE is owned by PERVANOVO and KIRKBI (owner of LEGO). PERVANOVO is also a sole shareholder of companies working under BJELIN brand,specialising in production of floors by commercialising new flooring technology, primarily developed by VÄLINGE. With 5 plants and 1,700 employees,BJELIN is the largest wood processor in Croatia and largest oak veneer producer in Europe. Its core business is to upgrade the Croatian oak to high value products mainly for flooring applications.

SPIN VALIS is one of Croatia's largest manufacturers of solid oak furniture, with a long tradition. Production also includes elements, glued solid boards and electricity based on bio energy and solar panels.

The acquisition will enable PERVANOVO group to fasterachieve faster than originally planned furniture production, using VÄLINGE’click technology, while it will enable SPIN VALIS to increase its furniture sales. With the acquisition PERVANOVO will also increase number of its employees in Croatia to more than 2,100.

WAHL's Corporate & M&A and EU & Competition teams wish to congratulate once again PERVANOVO Group, as well as to former major shareholders of SPIN VALIS, their legal advisors from Law firm Markoč, Pećina & Kušeta and M&A advisors from CAPER for a successful cooperation on the project.