The Green Building Group, an HIG Europe portfolio company headquartered in Graz, Austria, has acquired a majority stake in Lumar IG d.o.o. (Lumar), the leading Slovenian manufacturer of prefabricated houses.
As part of the transaction, Lumar’s founding owners, the Lukic family, have taken a stake in Green Building Group. Lumar will continue to manufacture from its highly efficient site in Maribor and will maintain its well-known brand under the umbrella of Green Building Group.
The Green Building Group was founded in August 2011 with the acquisitions of the Hanlo Group and HAG. The acquisition of Lumar represents a key step in its strategy to become a leader in environmentally friendly construction through both organic growth and further acquisitions. Lumar complements the Green Building Group with its premium products and strong presence in Slovenia and Italy. Lumar’s founder Milan Lukic and his son Marko Lukic, the current CEO, will take charge of the Green Building Group’s operations in Southern Europe. Terms of the transaction were not disclosed.
Lumar, headquartered in Maribor, is a market leader in Slovenia. The company also has a strong presence in Italy with its brand Lumar Biohaus. In addition to family homes, Lumar has significant experience with commercial projects, including schools, and has a well-established reputation for high quality and architectural sophistication. Dr. Wolfgang Marka, CEO of Green Building Group, will work closely with Milan and Marko Lukic to integrate Lumar into the group and identify synergies.
As part of the acquisition, the Green Building Group gains a strong Austrian financing partner with international experience – BAWAG P.S.K. In addition to providing acquisition financing for Lumar, BAWAG has refinanced the entire Green Building Group’s debt and will support the group in its organic growth as well as in future acquisitions.
“Lumar is an ideal addition to the Green Building Group and Milan and Marko Lukic are a highly experienced management team. I look forward to working with them to grow our business in Southern Europe,” says Dr. Marka.
Lukic adds: “The integration of Lumar into Green Building Group is an exciting opportunity to broaden the company’s geographic reach and accelerate its growth with a strong partner.”
“The acquisition of Lumar is an important step in our buy-and-build strategy to consolidate environmentally friendly prefabricated housing companies under the umbrella of the Green Building Group. Lumar has an excellent reputation and expands the Green Building Group’s product portfolio. We are also pleased to have brought on board a highly supportive and knowledgeable financing partner with BAWAG”, says Thomas Scriven, Principal at HIG and member of the Green Building Group’s board of directors.
