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IK Investment Partners acquires Hansa Group

IK Investment Partners, a Pan-European private equity firm, has agreed to acquire 99.74 per cent of Hansa Metallwerke, which includes its Swiss subsidiary KWC, from its current owners.

The Hansa Group is a provider of sanitary fittings for bathrooms and kitchens in Germany, Switzerland and Austria with revenues of EUR194m in 2009. 

The Hansa Group is headquartered in Stuttgart and employs approximately 1,000 people worldwide.

IK has experience in the building materials sector with investments such as Etanco, a designer, manufacturer and distributer of building fastener and fixing systems in France, and realised investments including Nobia, a manufacturer and retailer of kitchen interior products in Europe.

This is IK’s fourth announced transaction in 2010 following GHD, Colosseum and Agros Nova. Following the completion of the transaction, IK will have six portfolio companies in Germany including Minimax, Sport Group, Schenck Process, Flabeg, GHD and Hansa Group.

Chris Marshall, Hansa Group’s chief executive, says: “We are delighted to have won IK as our partner for the next stage of development of the Hansa Group. IK’s investment approach and track record in building successful companies while maintaining business continuity has convinced the management team that IK is the ideal partner for Hansa Group going forward. Hansa and KWC are two leading brands with huge potential for domestic and selective international expansion which in turn is great news for our valued industry partners.  We look forward to working with the IK team and build on our vision to strengthen our position as a market leader in the sanitary fittings industry.”

Detlef Dinsel, a managing partner at IK, says: “We are delighted to announce the acquisition of the Hansa Group, a leader in the European sanitary fittings market. We are excited to further develop the Hansa Group and leverage its strong brands and relationships with customers. The business has a solid base established for many years under the guidance of the founding family. We look forward to working with Chris Marshall and his team to realise the Group’s true potential”.

Financials for the deal were not disclosed. The transaction is subject to anti-trust approval.

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