HQ Equita sells Schock to IK Investment Partners

As a trendsetter and inventor of quartz composite kitchen sinks, Schock has acquired a reputation for exceptional and top-quality products. Established in 1924, the enterprise which, in addition to its private label business, also is on the market as an original equipment manufacturer (OEM) and innovation driver in the quartz composite segment, has managed to acquire leading kitchen and furniture industry enterprises as customers in recent years. Meanwhile customers in over 70 countries have learnt to appreciate the products from Schock.

IK VIII Fund acquires the business from HQ Equita
HQ Equita took over Schock from Capital Management Partners (CMP) in December 2010. The internationalization strategy adopted by management at that time has since been successfully implemented. Since the acquisition by HQ Equita, the business has continuously developed over the years. In the process, Schock has consistently ex-tended its market position. Accordingly, the group’s sales and earnings have more than doubled in the past six years. Measures implemented jointly between Schock and HQ Equita include the internationalization of the customer base, e.g. by founding a subsidiary in the U.S., the introduction of new materials as well as the diversification of the business outside the kitchen segment with a successful debut in the bathroom market. Moreover, HQ Equita supported the upgrade and extension of the production site located in the Bavarian Forest with substantial investments in expansion, modernization and automation. In 2016 alone, over 100 new employees have been recruited so far at that location.

This participation once again underscores the industrial approach adopted by HQ Equita, said Dr. Michael Hönig, Senior Partner and Managing Director of HQ Equita, on signing the contract. We invest in niche providers with market leadership that operate on a global scale, and we support international growth, product development and operational value gains. Florian Wiemken, Senior Investment Manager at HQ Equita, added: We’re convinced that in IK, Schock has an ideal partner at its side to continue its successful development in the future.

IK has a strong track record within the sector, with investments such as Hansa Group, Nobia, TCM Group, and we are proud to have the opportunity to support the company and its talented management team going forward. Together, we believe there are significant opportunities to grow the business organically and through acquisitions while continuing to put the customers first, said Detlef Dinsel, Partner at IK and advisor to the IK VIII Fund.

The exceptional success in recent years would not have been possible without HQ Equita. For this reason, we wish to explicitly express our thanks for their close and simultaneously challenging and encouraging assistance and collaboration, in a spirit of mutual trust and confidence, said Ralf Boberg, CEO at Schock. Under HQ Equita, Schock succeeded in expanding to reach a new scale, including a new stage of its corporate development. We’re delighted to have found a new owner in IK who would like to continue supporting the further internationalization and extension of our production capacities, said Sven-Michael Funck, CSO at Schock.

The parties mutually agreed not to disclose any details of the transaction.

* Para más información:  www.schock.de