Aurelius acquires Hüppe

The deal remains subject to competition authority approval and is expected to complete in April 2021.

Aurelius said in a statement that it expects the company will benefit from the consumer trends of bathroom upgrades, as well as the continuing replacement of baths with more sustainable showers. The GP aims to develop Hüppe's product portfolio and customer base, and will also consider add-on acquisitions.

Aurelius makes equity investments of €5-80m per deal, focusing on SMEs and corporate spin-outs with enterprise values of up to €250m. The firm targets companies that have below-average profitability, but that it considers to have significant growth potential with operational assistance.

The GP generally targets businesses with revenues of €50m-1bn and an EBITDA margin of up to 15%, focusing on three core sectors: IT and business services; industrials and chemicals; and lifestyle and consumer goods.

Company
Founded in 1889, Hüppe manufactures a range of shower enclosures, trays and wall panels, as well as other bathroom accessories. The business originally produced other households goods such as blinds, but began to produce shower enclosures in 1966. Masco Corporation acquired the company in 1987.

The company employs 470 staff and posted revenues of €70m in 2020. It is headquartered in Bad Zwischenahn and has two production sites in Germany and Turkey, as well as six European sales sites.

People
Aurelius – Matthias Täubl (CEO).

Advisers
Equity – Luther (legal); WTS (tax).

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