Windmöller Holding GmbH has announced the takeover of Witex Flooring Products GmbH (Witex) after a successful restructuring by private equity firm H.I.G. Capital, LLC.
This takeover sees the return of Witex to the founding family, the Windmöllers. Ulrich Windmöller founded Witex in 1978 in Augustdorf and played a pivotal role in the successful global establishment and marketing of its laminate flooring. The Windmöller family withdrew from what was then Witex AG in 2002.
Windmöller Holding comprises the companies WPT GmbH and Windmöller Flooring GmbH, based in Detmold and Augustdorf, as well as Windmöller Holzwerkstoffe GmbH and Windmöller Fertigteile GmbH based in Bad Oeynhausen and Löhne.
"We will spend the coming months determining the current status and future focus of Witex and are delighted to welcome Witex to the Windmöller Group," said Matthias Windmöller, the majority shareholder of Windmöller Holding.
H.I.G. is a leading global private equity investment firm with more than US$8.5 billion of equity capital under management.
Oaklins' team in Germany acted as advisor to H.I.G. in this transaction.
© 2019 Oaklins. All rights reserved. Oaklins is the collective trade name of independent member firms affiliated with Oaklins International Inc. For details of the nature of affiliation, please refer to www.oaklins.com/legal.