Mid-market investor Equistone Partners Europe has fully realised its investment in KWC Group through the sale of KWC Professional to France-headquartered DELABIE Group, a fourth-generation family-owned European firm focused on tapware and sanitary equipment for public and commercial buildings.
The transaction creates a pan-European industrial group, operating across multiple countries and regions, including Switzerland, Germany, Austria, the UK, and Finland, with an additional footprint in the Middle East. The company currently employs around 400 people.
Headquartered in Unterkulm, Switzerland, KWC Professional serves (semi-)public institutions such as airports, shopping centres, schools, sports and leisure facilities, hospitals, and security facilities.
Equistone Partners Europe acquired a majority stake in KWC Group (then Franke Group’s Water Systems division) in April 2021, in a carve-out transaction that brought together its Home, Professional, and Medical business units, as well as Nokite, a well-established Chinese original equipment/design manufacturer (OEM) of stainless-steel faucets.
Since then, Equistone has worked closely with the management team to execute a strategic realignment focused on fostering the strengths of each business division.
As part of this strategy, in 2024, the company sold its medical division to the Swedish Alumbra Group, its home division to Paini and its OEM division back to former owner, Franke Group.
Following the carve-out from the Franke Group, Equistone supported the rebranding of Franke Water Systems to KWC Group, with its business units renamed KWC Home, KWC Professional and KWC Medical.
Nokite retained its original name, having always operated as an independently branded unit within the group.
During the investment period, Equistone supported the acquisition of UK-based Newcastle Joinery Ltd, strengthening KWC Professional’s position in the specialised market for sanitary solutions in security and custodial facilities.
The firm also drove a wide-ranging value creation program and operational improvements, including implementing a state-of-the-art public cloud enterprise resource planning (ERP) solution, which reduced costs, enhanced global process consistency, and laid the foundation for future innovations.
The agreed transaction is subject to customary closing conditions.
Equistone was advised on this transaction by Enqcor (M&A), Bär & Karrer (Legal & Tax) and Deloitte (Financial Due Diligence). DELABIE Group was advised on this transaction by Natixis Partners (M&A & Financing), McDermott Will & Emery (Legal), 8Advisory (Financial & Operational Due Diligence), Arsène Taxand (Tax), and ERM (Environment).
