Egeria to buy majority stake in sauna company Klafs

The deal is set to close by the end of Q1 2020, according to a statement.

The GP said in the same statement that it intends to support Klafs' international growth and aims to build on the company's current market position.

Egeria is currently deploying equity via Egeria Private Equity Fund V, which held a final close in December 2017 on €800m and deploys equity tickets of €50-350m.

Egeria opened its Munich office in April 2020 and Klafs is the GP's first DACH-region platform investment since its opening.

Click here to read a profile of Egeria on Unquote.

Company
Founded in 1952 and headquartered in Schwäbisch Hall, Klafs manufactures and installs sauna systems and steam baths for private and commercial customers. The company employs 733 people across 25 showrooms and four production sites. Klafs generated revenues of €105m in 2019, according to its website.

People
Egeria – Hannes Rumer (partner, managing director).
Klafs – Stefan Schöllhammer (CEO).

Advisers
Equity – GCA Altium (corporate finance); GLNS (legal); Alvarez & Marsal (financial due diligence, commercial due diligence).
Vendor – Alantra (M&A, debt advisory); Ebner Stolz (financial due diligence); Menold Bezler (legal); Roland Berger (commercial due diligence).

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• Topics
• Buyouts
• DACH
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• Germany
• Egeria