Funds advised by Equistone Partners Europe (Equistone), one of Europe’s most active mid-market private equity firms, have agreed to acquire Franke Water Systems, a division of Franke Group and a leading European producer and supplier of kitchen and bathroom fittings for the residential, public and commercial sectors
Thorsten Klapproth, former CEO of Hansgrohe SE and WMF AG, joins the transaction as a co-investor. The seller of the Franke Water Systems division, which consists of the two business units KWC Group (KWC) and WS Commercial Group (WSC), is Franke Holding AG (Franke Group). The current management team will continue to drive the company’s growth strategy. The financial terms of the transaction are undisclosed and remain subject to approval from the relevant competition authorities.
Franke Water Systems is a division of Franke Group, which was founded in 1911 in Rorschach, Switzerland and is a globally active supplier of solutions and equipment for domestic kitchens and bathrooms, public washrooms, professional system catering providers and coffee brewing. Franke Water Systems was established as an independent division of the Franke Group and is formed of two business units, KWC and WSC, with production sites and competence centres in Europe, the United Arab Emirates and Asia. The company employs c. 900 people and generated revenues of more than 192 million Swiss Francs in 2020.
Source: Private Equity Wire
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