Expertise in international carve-outs: Aurelius relies on HÜPPE as a strong platform for organic development in a stable growth market.
Acquisition of a leading European supplier of shower partitions, shower trays, wall panelling and bathroom accessories Firmly established market position provides strong platform for organic development in a stable growth market Spin-off from US-based Masco Corporation serves as an example of AURELIUS’ expertise in international carve-outs
Munich / London, 12 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 be completed in April and is subject to approval by the antitrust authorities. The parties have agreed not to disclose financial details.
HÜPPE is one of the leading European manufacturers of shower partitions, shower trays, wall panelling and bathroom accessories. The company currently employs around 470 people at two production sites in Germany and Turkey as well as six European sales companies. In 2020, HÜPPE generated sales of around EUR 70 million, roughly on a par with the previous year. The positive development despite the ongoing coronavirus pandemic reflects the trend towards end consumers upgrading their bathrooms and, in particular, the trend towards replacing bathtubs with more sustainable and barrier-free shower areas. HÜPPE stands for innovation, quality and customer service and is ideally positioned to capitalise on this trend.
Together with the management team, AURELIUS plans to drive growth beyond the existing product and customer base. In addition, AURELIUS will contribute operational expertise in order to achieve a more sustainable positioning of the group through efficiencies in the purchasing and production process. This will create a solid basis for growth through add-on acquisitions.
The transaction is a further 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 is ensured and HÜPPE can establish itself as an independent company.
“We are delighted to welcome HÜPPE as another strong platform in the building materials sector. Not least because of the overarching trends such as investment in the home, sustainability and an ageing society, we are convinced of a successful development and, together with the HÜPPE management team, we will utilise the significant growth opportunities in the European core markets,” says Matthias Täubl, CEO of AURELIUS Equity Opportunities SE & Co. KGaA. “The acquisition of HÜPPE is a classic AURELIUS transaction in terms of size and framework conditions. In addition, we are working intensively on expanding our investment focus to include larger transaction volumes and thus to realise further growth potential.
AURELIUS was advised by Luther (Legal) and WTS (Tax).
The AURELIUS Group is a pan-European investment group with offices in Munich, London, Stockholm, Madrid and Amsterdam. Since its foundation in 2006, AURELIUS has developed from a local turnaround investor into an international multi-asset manager.
AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8, ticker symbol: AR4) is the exchange-traded investment arm focussing on corporate spin-offs and platform investments in the mid-market in various sectors. With a team of around 100 in-house operations experts, AURELIUS supports the portfolio companies in their long-term development. Currently, 26 group companies with around 12,000 employees throughout Europe generate revenues of approximately EUR 3.4 billion. The shares of AURELIUS Equity Opportunities are traded on all German stock exchanges.
In addition the AURELIUS Group is also active in the areas of growth capital, real estate opportunities and alternative forms of financing. AURELIUS Growth Capital invests in leveraged buyouts in connection with succession solutions for medium-sized companies and corporate spin-offs. AURELIUS Real Estate Opportunities focuses on property investments whose value can be increased in the long term through active management. AURELIUS Finance Company provides companies throughout Europe with debt capital in the form of flexible forms of financing.
With the non-profit AURELIUS Refugee Initiative e.V., AURELIUS runs a comprehensive aid programme for refugees on their way to a better life.
Further information is available at www.aureliusinvest.de