Equistone's Vivonio acquires Leuwico

The GP provided additional capital for the transaction. Other minority shareholders in Vivonio are Munich-based Orlando Management and the company's management.

Vivonio is aiming to build synergies between Leuwico and another company in the group, Maja, which operates in the home office segment.

Vivonio said its turnover grew by 15% in 2015, reaching €300m.

Previous funding
Bayerische Beteiligungsgesellschaft (BayBG) took a minority stake in Leuwico in May 2008 and wrote off its stake in March 2011 after the business filed for insolvency. Investors Equma and MRO acquired the business in August that year and initiated a restructuring, after which Leuwico started focusing on height-adjustable desks.

Companies
Founded in 1923 and based in Wiesenfeld, Leuwico is a producer of height-adjustable desks. The business has 100 employees.

Founded in 2012 and based in Munich, Vivonio is a group of European furniture manufacturers with three subsidiaries. Maja is headquartered in Kasendorf and produces lacquered chests of drawers, drawer units and lightweight furniture for Ikea. Bad Saulgau-based Staud produces bedroom furniture and specialises in sliding door wardrobes. Sciae is a French company based in Dienville. It manufactures ready-to-assemble furniture, focused on cabinets for bedrooms, living rooms and children's rooms.

Vivonio has 1,200 employees and a turnover of €300m.

People
Equistone Partners Europe – Michael Bork (senior partner).
Vivonio Furniture Group – Elmar Duffner (CEO).
Leuwico – Mattias Rothe (CEO).

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• Topics
• Portfolio management
• DACH
• Consumer
• Germany
• Equistone Partners Europe
• Build-up