AURELIUS successfully completes acquisition of HÜPPE GmbH from Masco
Acquisition of a leading European producer of shower enclosures, shower trays, wall panels and bathroom accessories
Firmly established market position and strong order backlog provides solid platform for organic development in a stable and growing market
Munich / London, June 1, 2021 - AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8) successfully completed the acquisition of HÜPPE GmbH from Masco Corporation as of May 31, 2021.
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 roughly EUR 70 million, about the same as in the previous year. The good performance despite the corona pandemic reflects the trend of end consumers upgrading their bathrooms and 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 by implementing efficiencies in the purchasing and manufacturing process. This will create the basis for future growth via add-on-acquisitions.
'Hüppe is a successful company in a steadily growing market. We will generate further organic growth on the basis of a well-filled order backlog, including recently acquired projects. Add-on acquisitions in the European core market will provide additional impetus. We look forward to working with the team on the ground,' said Matthias Täubl, CEO of AURELIUS Equity Opportunities SE & Co. KGaA.
AURELIUS Equity Opportunities SE & Co. KGaA published this content on 01 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 June 2021 05:33:04 UTC.