IK Investment Partners (“IK”) is pleased to announce that the IK VIII Fund has reached an agreement to sell its stake in SCHOCK GmbH (“SCHOCK” or “the Company”) to the Triton Fund V advised by Triton (“Triton”). Financial terms of the transaction are not disclosed.
SCHOCK has a leading global market position in the design and production of premium quality quartz composite kitchen sinks with a diverse customer base consisting of more than 2,000 clients in over 70 countries. The Company is known for its innovative, high-quality products and has a strong focus on sustainability underlined by the recently introduced Green Line, with sinks made up of over 99% natural, renewable or recycled raw materials. Besides the broad offering of kitchen sinks including over 200 models in 40 different colours, SCHOCK also offers faucets, shower trays and related accessories. Based in Regen, Bavaria, the company employs over 500 people and produces exclusively in Germany.
During IK’s ownership, SCHOCK pursued a successful strategy of new client wins, internationalisation and continuous product innovation. Since 2016, the Company has exhibited significant organic growth and more than doubled its operating profit whilst investing significant resources into production capacity expansion, operational efficiency, and product development.
Under the terms of the transaction, IK will be selling its stake to Triton, who will partner with the management team led by Ralf Boberg to develop the company further.
Ralf Boberg, CEO of SCHOCK, said: “We are very grateful to the IK team for their help and support over the last four years. During this time, we have invested in our innovative and sustainable product range, as well as enhanced our brand and reputation in the market for high-quality, durable and stylish sinks. We are looking forward to collaborating with Triton to build on this foundation and continue our trajectory of growth.”
Mirko Jablonsky, Partner at IK and advisor to the IK VIII Fund said: “It has been a real privilege to partner with SCHOCK, a market-leader in an attractive segment of the kitchen industry. The uncompromising focus on quality and undisputed ability to innovate and set new technological standards are the features that enable the Company to attract new customers and expand its product range and market footprint. We wish Ralf and the team every success with their new investors.”
Ruth Linz, Co-Head Consumer at Triton, said: “We are excited to invest in SCHOCK for the next stage of the Company’s development. It is not often that an opportunity arises where we are able to partner with such a strong brand with significant future growth potential, especially in the US and through targeted M&A. We look forward to working with SCHOCK to take it to the next level of growth.”
For further questions, please contact:
IK Investment Partners
Maitland/AMO
James McFarlane
Phone: +44 (0) 7584 142 665
jmcfarlane@maitland.co.uk
About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €13 billion of capital and invested in over 145 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com
About Triton
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: https://www.triton-partners.com/
About SCHOCK
SCHOCK is the inventor of the manufacturing technology commonly used in the production of quartz composite sinks and has been the worldwide technology and quality leader in this field for over 40 years. The combination of quartz with top-quality acrylic forms a premium compound product that is three times as hard as natural granite and is also superior in terms of many product characteristics to kitchen sinks made from other materials). The SCHOCK range of products comprises sinks for every conceivable kitchen style and taste. Customers in over 70 countries rely on SCHOCK products manufactured exclusively at the company’s headquarters in the Bavarian Forest. For more information, visit www.schock.de/en
