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H.I.G. Capital’s German Portfolio Company WERU Acquires UNILUX
HAMBURG – April 30, 2014 – WERU GmbH ("WERU"), the leading German window and door manufacturer, announced today that is has acquired competitor UNILUX AG ("UNILUX").
Founded in 1955, UNILUX is the leading provider of wood and wood-aluminum windows in Germany and is a comprehensive and innovative solution provider for windows, doors, facade systems as well as lift-slide and sun protection elements.
This transaction strengthens WERU’s market leadership in the window manufacturing sector in Germany. The company is now a full-line supplier and one of the leading manufacturers of windows and doors in Europe. Together, WERU and UNILUX will benefit from the wide range of high quality and innovative products and will capitalize on the ample market opportunities in Germany and Europe.
“The combination of WERU and UNILUX is a significant step in implementing our growth strategy. Together, we will strengthen our sales activities and optimize our product offering. This is good news for both the employees of WERU and UNILUX as well as for our customers and suppliers,” Harald Pichler, CEO of WERU, commented.
“Together with management, H.I.G. is pursuing a strategy to develop WERU both organically and through strategic acquisitions to become the leading manufacturer of windows and doors in Europe. The acquisition of UNILUX represents a critical milestone. We are very pleased with this achievement, coming less than three months after our investment in WERU,” explains Wolfgang Biedermann, Managing Director of H.I.G. Europe and Chairman of the Supervisory Board of WERU.
WERU is one of the leading manufacturers of windows and doors in Europe. It produces 460,000 windows and 15,000 doors annually at its two production facilities in Rudersberg near Stuttgart and Triptis near Leipzig. With a modern product range, the result of its strong innovative capabilities (70% of the turnover is achieved from products that are younger than three years), WERU sets the standard in terms of safety, energy efficiency and comfort. WERU has approximately 1,000 employees, and generates a turnover of approximately €150 million. Further information at www.weru.de.
UNILUX is a leading full-range supplier in the premium segment for windows and doors in private housing. It produces both windows and doors made of wood, wood-aluminum, plastic and plastic-aluminum, mostly with passive house standard. At its headquarter in Salmtal, UNILUX produces around 110,000 windows and 3,400 doors. It is known for its comprehensive range of excellent and innovative products for windows and doors as well as high quality service. More information at www.unilux.de.
About H.I.G. Capital
H.I.G. is a leading global private equity investment firm with more than $15 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York and San Francisco in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris and Rio de Janeiro, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm's current portfolio includes more than 80 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.