Aurelius Equity Opportunities SE & Co has acquired Hüppe GmbH from Masco Corporation. The transaction is expected to complete in April and is subject to approval by the relevant antitrust authorities. Financial details have not been disclosed.
Hüppe is one of Europe’s leading manufacturers of shower enclosures, shower trays, wall panels and bathroom accessories. The company currently employs around 470 people at two production sites in Germany and Turkey as well as six European sales entities. In 2020, Hüppe generated sales of cEUR70 million, in line with the previous year. This development despite the Covid-19 pandemic reflects on the one hand a trend towards upgrading the bathroom area by the end consumer, and on the other hand, the increasing replacement of bathtubs with more sustainable and barrier-free shower areas. Hüppe stands for innovation, quality and customer service and is ideally positioned to benefit from these trends.
Together with the management team, Aurelius plans to drive growth beyond the existing product portfolio and customer base. In addition, Aurelius will contribute operational know-how to achieve a more sustainable positioning of the group through efficiencies in the purchasing and manufacturing process. This solid standalone positioning will be the basis for future growth via add-on-acquisitions.
The transaction is another example of Aurelius’ expertise in the divestment processes of large multinational groups. In the coming weeks and months, Aurelius will support Hüppe in the carve-out from Masco Corporation in such a way that the smooth continuation of day-to-day business activities is ensured and that Hüppe can establish itself as an independent company.
Read more/Source: Private Equity Wire
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