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Marlies Hoogvliet - Partner
Formica is a leading brand in surface materials used in furniture, kitchens, and interiors, including schools, hospitals, and retail- or hospitality outfits. As the inventor of high-pressure laminates about a century ago, the brand is well-known around the world. The United States has always been a key market, while currently also Asia is growing rapidly. In Europe, the company has around 600 employees. However, a previous hands-off management style led to negative results, which has since been resolved. And today, after internal restructuring the company is ready for further growth across the region.
In 2019, Broadview Holding, a Netherlands-based industrial holding with a significant presence in material technology and energy owned by HAL investments, acquired Formica Group. This has boosted Formica Europe’s efforts in reclaiming its market position. Primarily, the company is bringing the business closer to the customer, while rebalancing operating expenses with revenues and restoring margins. For the latter, Formica has intensified cooperation with sister companies (such as Arpa, Trespa, Westag, and Homapal) to secure operational and commercial synergies. Recently, Formica Europe has introduced a “local for local” business approach supported by a decentralization of the back-office activities into the five commercial regions: Scandinavia, Finland & Baltics, UK & Ireland, Benelux, and Central Europe.