The IK IX Fund (“IK”), adviced by the European private equity firm IK Partners, has signed an agreement with Perusa Partners Fund II L.P. (“Perusa”) to acquire MÜPRO Group GmbH (“MÜPRO”). The management team will (re-) invest alongside IK. The financial terms of the transaction were not disclosed. The closing of the transaction is subject to regulatory approvals.
MÜPRO is a German-based specialty manufacturer and distributor of pipe fixing technology for technical building equipment, sanitary, heating, ventilation and air conditioning applications (“SHVAC”). It was founded in 1964 and its headquarters are located in Wiesbaden. MÜPRO has over 460 employees which are serving more than 12,000 customers ranging from small local installers to large installers who manage complex construction projects. Through the partnership with IK Partners, MÜPRO aims to grow its footprint in existing markets, continue its journey of digitisation, expand into adjacent geographies and drive market consolidation.
A team of EIGHT ADVISORY’s transaction specialists (Michael Wahl, Emre Vanlioglu, Henrik Merz, Daniel Martin Vicario and Aurelien Neth) supported IK with financial due diligence services and SPA advice on this transaction.