Private Equity Firm Buys Into Oase

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Private equity firm buys into OASE
15th December 2017

By Sandra Pearce
Aquatics and water gardening specialist OASE is being acquired by US private equity firm Argand Partners, with management acquiring a share in the company as part of the transaction. The financial terms of the deal are undisclosed.
 
Equistone Partners Europe, one of Europe’s leading mid-market private equity investors, had a majority share in OASE, which it has sold. 
 
Founded in 1949, OASE is headquartered in the Westphalian town of Hörstel in Germany and has production sites in Germany, Italy, the UK, the Netherlands and China, employing 750 people worldwide. 
 
Equistone acquired a majority share in OASE in June 2011 and over the next few years engaged on a targeted international buy-and-build strategy. In 2013, OASE acquired Eden, an Italian manufacturer of products for indoor aquatics and water gardens. In March 2014, it acquired Geo Global Partners, a Florida-based company and provider of water gardens products, and early last year, it acquired biOrb.
 
Revenue increased from approximately €100m in 2011 to €150m in 2017. 
 
Thorsten Muck, chief executive officer of OASE, said: “Equistone’s experience in securing international growth for its investments, together with its support for the strategic expansion of our product portfolio and the acquisition of companies and brands, has been a huge help for us. We have been able to successfully grow the company through our collaboration with Equistone and would like to thank the firm for its role in this great partnership. 
 
“At the same time we look forward to accelerating this expansion with Argand Partners. Our customers and partners will benefit greatly from Argand’s extensive industry expertise and we are very pleased to be collaborating with them.”