- Acquisition of a leading European producer of shower enclosures, shower trays, wall panels and bathroom accessories
- Firmly established market position provides strong platform for organic development in a stable and growing market
- Divestment from Masco Corporation serves as a demonstration of AURELIUS' expertise in cross-border carve-outs
Munich / London, [12th March] 2021 - AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8) today announces the acquisition of 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 c. EUR 70 million, in line with the previous year. The good development despite the corona pandemic reflects on the one hand a trend towards upgrading of 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 acitivities is ensured and that HÜPPE can establish itself as an independent company.
"We are pleased to welcome HÜPPE as a strong platform in the building materials sector. Last but not least because of the fundamental trends of home investments, sustainability and an aging society we are convinced of the successful development and look forward to working alongside HÜPPE's management team to expand the business in its core European markets," said Matthias Täubl, CEO of AURELIUS Equity Opportunities SE & Co. KGaA. “The acquisition of HÜPPE is a classic AURELIUS transaction in terms of size and general framework. We are working intensively on expanding our investment focus to larger deals and co-investments as expansion of our financing strategy.”
AURELIUS was advised by Luther (Legal) and WTS (Tax).
AURELIUS Group is a pan-European investment group with offices in Munich, London, Stockholm, Madrid and Amsterdam. Since it was founded in 2006, AURELIUS has grown from a local turnaround investor to an international multi-asset manager.
AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8, ticker symbol: AR4) is the listed entity within AURELIUS Group and focuses on investing in mid-market corporate carve-outs and platform build-ups in a broad range of industries. With a team of approximately 100 in-house operations experts, AURELIUS actively supports its portfolio companies in their long-term development. AURELIUS Equity Opportunities currently has 26 portfolio companies located across Europe which employ around 13,000 people and generate annual revenues of approx. EUR 3.0 billion. The shares of AURELIUS Equity Opportunities are traded on all German stock exchanges.
AURELIUS Group also operates in the areas of growth capital, real estate opportunities and debt. AURELIUS Growth Investments invests in leveraged buyouts usually in succession or corporate spin-off situations. AURELIUS Real Estate Opportunities focuses on real estate investments, the value of which can be increased in the long-term by means of active management. AURELIUS Finance Company is an alternative direct lender, focused on providing flexible debt solutions to small and mid-market firms across Europe.
With its group charity AURELIUS Refugee Initiative e.V., AURELIUS provides comprehensive support for refugees on their way towards a better life.
To find out more, visit www.aureliusinvest.de