FSN Capital IV and other minority shareholders have signed a definitive agreement to sell 100% of the shares in Fibo to Norcros. The transaction marks the conclusion of a successful 10-year growth journey under FSN Capital IV, which originally acquired Fibo as a carve-out from Byggma ASA in 2015. During this ownership period, Fibo underwent a transformation from a local Norwegian player into a robust international entity with a diversified revenue mix and highly automated manufacturing capabilities. The strategic rationale for Norcros is to gain access to Fibo's market-leading waterproof wall panel technology, which complements its existing bathroom product suite. For Fibo, the acquisition provides access to greater resources and the ability to collaborate with a larger group to further serve global customers. The deal was advised by DNB Carnegie, Haavind, PWC, and Raymond James for the sell-side. Closing is anticipated in the second half of 2025, pending customary regulatory approvals.

Established in 1952, Fibo is a leading global supplier of high-quality, waterproof decorative wall systems and accessories. Primarily serving the wet room market, the company provides a sustainable and cost-effective alternative to traditional tiles. Fibo’s products are utilized across public buildings, private residences, and modular projects in both new builds and renovations. The company operates a highly automated production facility in Lyngdal, Norway, which was built in 2017 to enhance operational efficiency. Fibo holds the number one market position in Norway and has expanded its international footprint to over 20 countries, with a significant presence in the UK, Europe, and North America. Its business model relies on a diversified distribution network including builders’ merchants, DIY chains, and direct B2B sales.