Equistone-backed Gala Kerzen acquires Korona Candles

Deal marks the third candle manufacturer Equistone has acquired in short succession this year, after bolting on Juwelkerze and Ramesh Flowers.

Having established a presence in the US in 2013, Korona intends to use the fresh capital to continue its expansion in the US candle market.

Gala Kerzen acquired German candle manufacturer Juwelkerze in March 2018, after bolting on Ramesh Flowers at the end of February 2018.

Gala Kerzen was acquired via Equistone's fifth buyout fund in February 2016. The GP announced the final closing of its sixth fund on its €2.8bn hard-cap on 12 March 2018.

Company
Founded in 1992 and headquartered in Wieluń, Lodz, Korona is a scented candle and wax-melt manufacturer. It employs a staff of 1,000 and runs production factories in Wieluń and in the US. It posted a turnover of €100m in 2017.

People
Equistone Partners Europe – Dirk Schekerka (head of DACH).
Gala Kerzen – Dirk Langhammer (managing director).
Korona Candles – Andrzej Wrobel (chief executive).

Advisers
Acquirer – CatCap Corporate Finance (M&A); P+P Pöllath + Partners (legal); Watson Farley & Williams (tax); PwC (commercial due diligence); KPMG (financial due diligence).
Company – PwC (M&A); Weil Gotshal & Manges (legal).

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• Equistone Partners Europe