Rudersberg (Germany), 16 January 2014 - Funds advised by Triton have successfully closed the deal to sell WERU GmbH, Germany's leading manufacturer of windows, doors and carports, to private equity firm H.I.G. Capital. Triton has supported the business for the past fourteen years. The deal was signed on the 20th of November 2013.
"In the past years, despite challenging market dynamics, WERU has not only been able to reduce debt but also build a solid foundation for further expansion. Through appropriate investment of both time and capital, WERU is virtually debt free today" said Peder Prahl, Director of the General Partner of the Triton funds. "We are confident that WERU will continue to grow under H.I.G.'s ownership."
Acquired in 1999, WERU was the first investment of the Triton Funds. In spite of a rapidly shrinking European window market, WERU was able to maintain a leading market position through a targeted investment programme in efficiency, the sales organisation and new products. Triton provided the company with fresh capital several times during this period. In 2012 WERU generated a turnover of approximately EUR 143m.
About WERU
WERU maintains two production locations: at its headquarters in Rudersberg, near Stuttgart, and in Triptis, near Leipzig. The company has around 1,000 people. With an annual output of approximately 460,000 windows and 14,300 doors, WERU is one of Europe's largest window manufacturers. In 2012 the company generated a turnover of around EUR 143m.
About Triton Partners
Founded in 1997 and owned by its partners, Triton Partners is a leading European mid-market sector-specialist investor. Triton Partners focuses on investing in businesses that provide mission critical goods and services in its three core sectors of Business Services, Industrial Tech, and Healthcare.
Triton Partners has over 150 investment professionals and value creation experts across eleven offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.