An affiliate of HIG Capital (HIG) is to sell its German portfolio company WERU Group (WERU) to DOVISTA A/S, a North European solution provider of vertical windows and exterior doors.
The transaction is subject to clearance by the relevant antitrust authorities.
WERU, a leading manufacturer of PVC windows and doors in Germany, was acquired by HIG in 2014, and subsequently acquired UNILUX, a leading manufacturer of wood-based windows and doors to expand its product portfolio. During HIG’s ownership, WERU modernised the Company’s production facilities, launched new products, and implemented various digital innovations. Headquartered near Stuttgart in Germany, WERU sells its product offering via a broad network of more than 1,700 specialised retailers and has more than 1,100 employees across its three manufacturing sites in Germany.
Stefan Löbich, CEO of WERU, says: “Over the past years, we worked very closely with HIG and successfully implemented our jointly defined strategy. As a result, WERU is a major player within windows and doors in Germany today. Having an experienced, reliable, and financially strong partner such as HIG on our side was extremely beneficial for the Company, and I thank HIG for their continued support. Now I am truly excited to open a new chapter for WERU as part of DOVISTA Group.”
Allan Lindhard Jørgensen, CEO & President of DOVISTA A/S, says: “Our two companies make a great fit. With the acquisition of WERU, we accelerate our plans to expand further and truly make all of Europe our home market. We add a notable German vertical windows and exterior doors brand to our existing brand portfolio and gain further traction in Germany which is a significant market for building a strong presence in Central Europe. We are delighted to welcome WERU and its employees to the DOVISTA family, and I very much look forward to working with the WERU team.”
Klaas Reineke, Managing Director at HIG, says: “Working with Stefan Löbich and his team at WERU was a great pleasure for us. We worked closely with WERU management over the past years – with selected add-on acquisitions, continuous digitization efforts, and an even stronger customer focus, and as a result, WERU was able to strengthen its market position in Germany over the last years. We are convinced that WERU is very well positioned for further growth as part of DOVISTA, and we wish Stefan Löbich and his team every success for the future.”