Investment firm Hannover Finanz Opportunities (HFO) has acquired a majority stake of German bathroom furnishings manufacturer Keuco, for an undisclosed sum.
HFO says its focus in the deal was for “a long-term sustainable perspective for Keuco”, and says it plans to strengthen Keuco’s core range and brand, improve processes, and build long-term competitiveness. Following the acquisition, the previous Himrich shareholder family will also continue to hold a minority stake in the company.
Founded back in 1953, Germany-based Keuco supplies a range of bathroom accessories, fittings and mirror cabinets, as well as bathroom furniture.
Meanwhile, HFO was established in 2023 as a dedicated subsidiary of the wider Hannover Finanz Group, and was set up specifically to focus on complex businesses, “special situations” and corporate turnarounds.
New majority stakeholder HFO says it views Keuco’s “strong brand and product know-how” as a good reason to support the brand during the current “phase of moderate market demand”.
“Keuco combines an established premium position with pronounced design and manufacturing expertise,” said Hermann Reitze, managing partner at HFO. “We want to maintain these strengths and work alongside the company through the current market situation with fresh capital and a long-term perspective.”
Dr Gerd Sievers, also a managing partner at HFO, added: “It is crucial to implement measures with regard to quality, customers and employees together with the Keuco team. In this way, we wish to sharpen the product portfolio, adapt the capacities and processes to the market conditions and strengthen the brand core with a competitive cost position and therefore position Keuco for the future.”
Keuco CEO Lubert Winnecken said the company was pleased to obtain a German investor to help support its future growth. He continued: ” With a strong new corporate structure, the opportunities in the market can be optimally exploited. Keuco stands for a reliable and consistent brand with deep roots: The previous Himrich shareholder family continues its commitment with a minority stake.”