Bauwerk acquires Somerset Hardwood Flooring
Bauwerk Group, the first European parquet manufacturer with the brands Bauwerk and Boen, has acquired the American Somerset Hardwood Flooring.
The operation is aimed at strengthening its presence in the growing markets of the USA and Canada, exploiting new operational synergies with the Somerset (Kentucky) company, which can boast a consolidated presence on various sales channels in the wood flooring sector (for 60% solid and the remaining 40% plywood). Thanks to this acquisition, the Bauwerk Group will thus see its leadership consolidated in the production of wooden floors, with over 11.5 million square meters produced each year and a turnover of more than 390 million euros.
"Somerset Hardwood Flooring is the ideal partner for the expansion of the Bauwerk Group," explained Patrick Hardy, CEO and President of the Bauwerk Group. "In addition to the excellent positioning on the market and the high quality range, we have evaluated the production capacity and work organization of an excellent, close-knit and very professional team. These values are in line with those expressed by our companies and this is why we are happy to take over from founder Steve Merrick ".
The leadership of Somerset Hardwood Flooring will go to Paul Stringer, former Vice President of Sales & Marketing, who assumes the new position of CEO and President. Each brand will therefore maintain its specific identity and commercial focus within the respective regions of competence.
