The sale of KWC comes two years after IK acquired bathroom and kitchen fittings company Hansa via its IK2007 Fund.
KWC, one of the Germany, Switzerland and Austria-based group’s main brands, has a “leading position” in the European fittings market for premium kitchen and number one position in sanitary fittings in Switzerland. According to IK, under its ownership KWC strengthened its position in Switzerland and expanded internationally.
Detlef Dinsel, managing partner at IK, said, “Franke is an ideal strategic acquirer for KWC, with complementary expertise and areas of competence. It is in a great position to develop the business, as its strong global distribution network will provide KWC with a global platform to further expand the company internationally. I would like to thank Roland Gloor (KWC CEO), Chris Marshall (Hansa Group CEO) and the rest of the management team for their contribution.”
The Hansa business, will remains part of the IK2007 Fund, the firm said.
Copyright © 2013 AltAssets