Equistone buys German candlemaker Gala

The buyout was set up to facilitate the company's succession as founder and managing director Horst Langhammer retires. However, he will remain CEO and will continue to hold a minority stake in the business. Equistone plans to grow the company organically and through strategic acquisitions.

Equistone is currently investing its fifth buyout fund, which held a final close on its €2bn hard-cap in April 2015.

Debt financing for the transaction was provided by BayernLB.

Company
Founded in 1972 and headquartered in Wörnitz, Gala supplies supermarkets, drugstores and discounters with scented candles, tea lights, grave lights and other candles. Its products are sold in 25 countries through a network of distribution partners. For the current financial year, Gala expects revenues of €70m.

People
Gala – Horst Langhammer (CEO).
Equistone – Dirk Schekerka (managing director).

Advisers
Equity – KPMG (Financial due diligence); Watson Farley (Tax); PwC (Commercial due diligence); P+P Pöllath + Partners (Legal); Sherman (Legal); Wolf Theiss (Legal).

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• Topics
• Buyouts
• Consumer
• DACH
• Germany
• Equistone Partners Europe