Triton Beratungsgesellschaft GmbH: Triton sells WERU to private equity firm H.I.G. Capital (news with additional features)
(firmenpresse) - (DGAP-Media / 21.11.2013 / 12:02)
Triton sells WERU to private equity firm H.I.G. Capital
Rudersberg, 21 November 2013 - Funds advised by Triton have signed an
agreement to sell WERU GmbH, Germany's leading manufacturer of windows,
doors and carports, to H.I.G. Capital. H.I.G. Capital is a private equity
firm specialized in providing capital to small and medium-sized companies
with high-quality products and services as well as attractive growth
potential throughout the U.S. and Europe. The transaction is subject to the
approval of the relevant authorities. Both parties involved have agreed not
to disclose the purchase price.
'Triton has owned and supported WERU for over 14 years,' said Peder Prahl,
Director of the General Partner for the Triton funds. 'New thinking,
resources and capital have been invested several times to allow the
business to develop during challenging market conditions.'
Following the acquisition, the company was confronted with a rapidly
shrinking European window market and almost halved in size between 1999 and
2007. Despite this challenging situation, WERU was able to maintain a
leading market position through a targeted investment programme in
efficiency, the sales organisation and new products. Triton provided the
company with fresh capital several times during this period.
In 2012 WERU generated a turnover of around EUR 143m.
'Over the past years our owner took a long-term view on our key markets and
enabled us to fund the strategic realignment and repositioning of the
company,' said Harald Pichler, CEO of WERU. 'By making appropriate
investments in our sales platform and new products throughout the downturn
we built an outstanding position in the growing PVC window segment of the
German window market.'
In recent years WERU has introduced several new products and currently has
a strong product pipeline. It is estimated that by 2014 70 percent of
turnover will be generated through 'young' products introduced within the
last three years. The core product segment, PVC windows, meets the very
latest standards in terms of safety, energy efficiency, design and
technology.
'Today WERU is virtually free of debt and has built a solid platform for
further expansion under new ownership,' said Harald Pichler.
About WERU
WERU maintains two production locations: at its headquarters in Rudersberg,
near Stuttgart, and in Triptis, near Leipzig. The company has around 1,000
people. With an annual output of approximately 460,000 windows and 14,300
doors, WERU is one of Europe's largest window manufacturers. In 2012 the
company generated a turnover of around EUR 143m.
For more information about WERU GmbH, please visit our website at
www.WERU.de
WERU press contact
Malte Hyba
Tel.: +49 7183 303588
E-mail: mhyba(at)weru.de
About Triton
The Triton funds invest in and support the positive development of
medium-sized businesses headquartered in Northern Europe - with a focus on
Germany, Switzerland, Austria and the four Nordic countries: Denmark,
Finland, Norway and Sweden. Within this European region, Triton focuses on
businesses in the Industrial, Business Services, and Consumer/Health
sectors.
Founded in 1997, Triton seeks to contribute to the building of better
businesses for the longer term. Triton and its executives wish to be agents
of positive change towards sustainable operational improvements and growth.
The 25 companies currently in Triton's portfolio have combined sales of
approximately 12.9 billion Euros and over 52,000 employees.
The Triton funds are advised by dedicated teams of investment professionals
based in Germany, Sweden, United Kingdom, Luxembourg and Jersey.
For further information: www.triton-partners.com
Triton press contact
Max Hohenberg
Phone: +49 (0) 172 899 62 64
Email: Max.Hohenberg(at)cnc-communications.com
About H.I.G. Capital
H.I.G. Capital is a leading global private investment firm with over EUR10
billion of capital under management. The firm is headquartered in Miami
with offices in Atlanta, Boston, Chicago, Dallas, New York, San Francisco,
Rio de Janeiro, as well as the offices of H.I.G. Europe in London, Hamburg,
Paris, Madrid. H.I.G. Capital specializes in providing capital to small and
medium-sized companies with revenues between EUR30 million and EUR500
million and invests in leveraged buyouts (LBOs), management-led buyouts,
recapitalizations as well as growth situations. H.I.G. Capital also
commands deep experience in distressed situations as well as operational
and financial restructurings. Since its inception in 1993, H.I.G. Capital
has managed and invested in over 250 companies globally. Currently H.I.G.'s
portfolio includes 80 companies with combined revenues of over EUR23
billion.
End of Media Release
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Document: http://n.equitystory.com/c/fncls.ssp?u=NRVEDGKBWX
Document title: Press release: Triton sells WERU to private equity
firm H.I.G. Capital
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Issuer: Triton Beratungsgesellschaft GmbH
Key word(s): Enterprise
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