Transaction Details

March 9, 2021
Munich

Sector

Consumer, Retail, E-commerce and Leisure

Deal Type

Acquisition financing, Debt advisory

Deal Team

Thorsten Weber, Verena Jacobs, Armin Klose, Thai Nguyen Duy

GCA Altium advises Equistone on the financing for the acquisition of Franke Water Systems

GCA Altium has advised Equistone Partners Europe on the financing for the acquisition of Franke Water Systems, a division of Franke Holding AG and a leading producer and supplier of kitchen and bathroom fittings for the residential, public and commercial sectors.

Thorsten Klapproth, the former CEO of Hansgrohe SE and WMF AG, is co-investor on the transaction. The current management team will continue to lead the company’s growth strategy.

Franke Water Systems was established as an independent division of the Franke Group and is formed of two business units, KWC Group and WS Commercial Group (WSC), with production sites and competence centres in Europe, the United Arab Emirates and Asia. The company employs c. 900 people and generated revenues of more than CHF 192m in 2020.

KWC is a Swiss market leader for residential bathroom, residential kitchen and commercial kitchen fittings ranging from the mid- to luxury-price segment with high-quality materials as well as its innovative design approach and a promise of “Made in Switzerland” quality. WSC offers its customers high-quality stainless steel fittings and components for the commercial and public bathroom sector and is characterised by its comprehensive and superior product portfolio as well as its strong service competence.

“The European market for kitchen and bathroom solutions has been developing very positively for years and Franke Water Systems is ideally positioned to play an important role in this market environment. With Thorsten Klapproth, we were able to bring a proven industry expert with many years of experience on board,” said Stefan Maser, Partner at Equistone.

GCA Altium advised Equistone on a tailor-made debt financing and advised on all commercial aspects of the transaction financing.

Thorsten Weber, Managing Director at GCA Altium, commented: “We are convinced that Equistone is the ideal partner for Franke Water Systems. Together with Thorsten Klapproth and the management team, Equistone will lead the group into the next growth phase. The implemented financing structure fits perfectly with Franke Water Systems’ strategy.”

The transaction was signed in February 2021 and remains subject to approval from the relevant competition authorities.

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