HIG Europe’s Weru completes bolt-on investment

The deal comes only three months after HIG Capital invested in the company through its European arm HIG Europe.

According to a source close to the deal, HIG provided additional financing to facilitate the bolt-on.

Weru is now the sole owner of the company, having previously acquired 50% of Unilux. The addition of Unilux will strengthen Weru's sales and enhance its product offering.

Weru manufactures windows and doors as well as related products for building and renovating, with a focus on polyvinyl chloride and aluminium products. The firm produces around 460,000 windows and 15,000 doors a year for around 800 specialist traders from its headquarters in Rudersberg, near Stuttgart. The company achieved revenues of €143m in 2012.

HIG's most recent investment was in Dorset-based Kondor, a provider of mobile and consumer electronics accessories. Capital for the management buyout came from its newest fund, HIG Europe Capital Partners II.

Company
Located in Salmtal, Rhineland-Palatinate, Unilux supplies windows and doors for private housing. The firm produces 110,000 windows and 3,400 doors annually. Approximately 500 people are amployed by Unilux, which had revenues of more than €50m for the financial year 2012-13.

People
Harald Pichler is CEO of Weru. Wolfgang Biedermann is managing director of HIG and chairman of Weru's supervisory board.

Advisers
Equity - Vogt Wunsch Holler (Legal); AC Christes (Financial due diligence).

 

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