The founding family of the bathroom furniture manufacturer Royo is reinventing itself to maintain its business activity after the sale and departure from the management of what has been its great emblem for almost half a century. As published elEconomista.eslA few months ago, the family closed the sale of the minority interest it still held in Royo to the multinational health group Roca. A sale that has also led to the departure of Raúl Royo’s management of the multinational’s furniture division.
The farewell to what has been the historic company has led the family to reorganize what until now was its investment arm outside the bathroom sector, he family office Invext. As explained by the family, the property now becomes a business group, although also maintaining the main investment lines that it has had until now. Real estate, on the one hand, and investment in funds and emerging companies, on the other.
The firm explains that the decision of this reorganization is the result, in part, of the sale to Roca of the stake in Royo Group that the family still owned and at the same time that Raúl Royo left the management of the family business, which he has managed for the last 30 years.
The renamed Invext Business Group It maintains the property area under the name of Royo Legacy, and two new business units are incorporated, the real estate area (Invext Real Estate) and the business area (Royo Ventures). Thus, the real estate part will be managed by Santiago Royo, who was already in charge of assuming the property business and the real estate operations that the family office has developed, until now mainly in industrial assets.
In addition to the sale of the factories where Royo operates, Invext bought a 27,000m2 plot in Quart de Poblet (Valencia) in the old Dosados-Tu tempo facilities. Its objective is to develop a logistics platform with a buildable area of 17,000m2 in it. The family office is also a shareholder of Socimis such as Inbest, Silicius and Atilius.
Now within the real estate area, the new group wants to initially focus on the construction of affordable housing, “with a social objective of facilitating access to housing,” said Santiago Royo.
Royo Ventures
For his part, Raúl Royo will be responsible for Royo Ventures, a new area of investment and business management, and will work on the search for direct investments in companies, where the contribution of management experience will be the differential part, and also in investment through other fund managers, where it will be invested in projects of a different nature.
In both new divisions, Invext Real Estate and Royo Ventures, “We propose a co-investment and collaborative model, where we will look for investors with an open model where the participation in the capital of other business families can have a place,” said Raúl Royo.
According to the Royo family, this new stage is an opportunity to learn about new sectors and to be able to share their experience and way of doing things so that it serves as an example to other businessmen and entrepreneurs in the Valencian Community. “Many Valencian companies still have an important way to improve their margins and profitability and based on our experience, we can explore new formulas to help them,” they noted.
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