Blanchon Group announces the acquisition of Debal Finance (known under Ciranova brand), a Belgian family-owned business generating €15m turnover, specialized in the design and manufacturing of finishing products for parquet and wood floorings for more than 90 years, dedicated to professional and industrial customers.
This acquisition is part of Blanchon Group strategy to accelerate its international growth, to become a European leader in protection, maintenance, renovation and decoration of wood and vinyl flooring and surfaces. With a commercial presence in more than 24 countries around the world, including North America and Asia, Ciranova’s operations from 4 platforms located in Belgium, in the United States and in China, will complement the well-established Blanchon European subsidiaries to accelerate the group international business growth.
Leveraging on the complementary combination of the Blanchon and Ciranova product lines, their strong brand awareness, as well as on their respective client portfolios, this acquisition allows Blanchon Group to become the Belgian leader in the supply of products and services to professional and industrial customers. Ciranova R&D team will also strengthen Blanchon Group recognized product formulation and UV technology, and improve its capacity to provide its customers with new product innovations. The new Group ambition is twofold: first of all to support the development of all customers in the short, medium and long term; and to strongly increase the Group market shares in the professional and industrial segments.
The 60 highly-skilled employees of Ciranova are now joining the Blanchon Group experienced and multi-functional teams. Debal Finance top Management will remain fully involved in the company, and will take over the overall responsibility for the Industry segment. Moreover, they have invested into the Blanchon group alongside the current shareholders.
“With nearly 7,000 references across 55 countries on 5 continents, top line growth and international expansion are at the heart of the Blanchon Group strategy. The acquisition of Ciranova is an additional step towards achieving our ambition to double our international sales over the next 5 years.” Guillaume Clément, President and CEO of the Blanchon Group, comments.
“We are very pleased to join Blanchon Group, as we share the same values. Benefitting from its brands strong reputation in Europe, as well as solid R&D expertise and a highly technical product range, Blanchon Group has a very complementary offer to Ciranova’s value proposition” adds Wouter Devaere, CEO of Ciranova.
“This highly synergistic acquisition is the result of an external growth strategy initiated when Abenex acquired Blanchon, in order to accelerate the Group international expansion. It enables the Group to achieve nearly €100m in revenue in 2021, which becomes a leading European player in this niche market. We are currently looking at several other strategic acquisitions that could further reinforce Blanchon Group European positions in the near future”, indicates Jérôme Vandermarcq, Partner at Abenex.