Triton to acquire Inwerk
Frankfurt / Meerbusch (Germany), 3 December 2020 - The Smaller Mid-Cap Fund (“TSM”) advised by Triton ("Triton") has signed an agreement to acquire a majority stake of Inwerk GmbH, one of the leading online providers of professional office furniture in Germany. Terms and conditions of the transaction were not disclosed.
“We want to support the management and employees of Inwerk by investing in and supporting the continued growth and development of the company. We look forward to working together with the management team to strengthen the company’s position among its customers and successfully launch and commercialize new product innovations,” said Peder Prahl, Director of the General Partner for the Triton funds.
Inwerk is a developer, manufacturer and retailer of office furniture systems. It was founded in 2001 and employs around 80 people at two locations in North Rhine-Westphalia and Hesse. The company has been recognized as a top innovator and has received numerous design and sustainability awards for outstanding system solutions and has more than 100 patent, brand and design registrations. In the Open Innovation Lab "LAB-3", completed in 2020, Inwerk researches and develops new systems for new work infrastructures and for home office furnishings.
Inwerk is the omnichannel industry leader, which started out as an e-commerce pioneer in the office furnishing sector and sells its product range of 10 million article variants via its multi-award-winning online store and at the same time via Germany's two largest and unique office furniture exhibitions, intermeshed with the planning service of its in-house team of interior designers. The customer base comprises over 400,000 companies, including 75% of the Dax 30 members.
“Inwerk is the 10th investment of the Triton Smaller Mid-Cap Fund. The company is well positioned in the growing German online office furniture market, which has significant potential for further growth. It has a strong track record of substantially outgrowing the market and we look forward to supporting Inwerk on its further expansion strategy including the strengthening of its footprint across core regions”, adds Andi Klein; Investment Advisory Professional and Member of the TSM Investment Advisory Committee.
"We are pleased to welcome Triton as a new owner, a highly regarded investor and a strong partner who will support our growth strategy, our family atmosphere and our goal to expand our reach and presence. We will greatly benefit from Triton's expertise," adds Jens Hohenbild, Managing Director Inwerk GmbH.
Inwerk is one of the leading online providers of professional office furniture in Germany. Inwerk was founded in 2001 and has 80 employees in two offices. The company, headquartered in Meerbusch near Düsseldorf, is a pioneer in online multi-channel marketing and an award-winning designer of unique and innovative office furnishing solutions. The company has served over 400,000 customers with a comprehensive product and service offering including own design furniture and 3D office planning services.
Inwerk's most recent developments include completely new types of office furniture systems that have been proving themselves in practice in many companies since 2019 and provide the tools for flexible and transparent new work infrastructures, such as the multifunctional Masterbox® furniture system
In 2018, Inwerk also developed home office furniture that gives home offices the same ergonomic quality as classic office workplaces and meets the requirements of the German Occupational Health and Safety Act, which stipulates that health and safety requirements must be met.
For further information: https://www.inwerk.de/en
Since its establishment in 1997, Triton has sponsored nine funds, focusing on businesses in the industrial, business services, consumer and health sectors. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth.
The 45 companies currently in Triton's portfolio have combined sales of around €18,2 billion and around 100,800 employees.
For further information: www.triton-partners.com