H.I.G. Capital Sells Weru Group to Dovista A/SJuly 8th, 2021 by Editor
Global alternative investment firm H.I.G. Capital has announced that an affiliate has signed a definitive agreement to sell its German portfolio company Weru Group to Dovista A/S, a North European solution provider of vertical windows and exterior doors. The transaction is subject to clearance by the relevant antitrust authorities.
H.I.G. acquired Weru, a German manufacturer of PVC windows and doors, in 2014, and subsequently acquired Unilux, a manufacturer of wood-based windows and doors to expand its product portfolio. During H.I.G.’s ownership, Weru modernized its production facilities, launched new products, and implemented various digital innovations.
Headquartered near Stuttgart, Weru sells its product offering via more than 1,725 specialized retailers and has more than 1,100 employees across its three manufacturing sites in Germany.
“Over the past years, we worked very closely with H.I.G. and successfully implemented our jointly defined strategy. As a result, Weru is a major player within windows and doors in Germany today. Having an experienced, reliable, and financially strong partner such as H.I.G. on our side was extremely beneficial for the Company, and I thank H.I.G. for their continued support. Now I am truly excited to open a new chapter for Weru as part of Dovista Group,” said Stefan Löbich, Weru CEO.
“Our two companies make a great fit. With the acquisition of Weru, we accelerate our plans to expand further and truly make all of Europe our home market. We add a notable German vertical windows and exterior doors brand to our existing brand portfolio and gain further traction in Germany which is a significant market for building a strong presence in Central Europe,” added Allan Lindhard Jørgensen, CEO and president of Dovista A/S. “We are delighted to welcome Weru and its employees to the Dovista family, and I very much look forward to working with the Weru team.”