LIXIL and DBJ Complete the Acquisition of 87.5 Percent of GROHE Group S.à r.l.

 

                                                                                                                       

Beirut, January 28, 2014 – LIXIL Corporation (Headquarters: Tokyo, Japan; President and CEO: Yoshiaki Fujimori), and the Development Bank of Japan Inc. (“DBJ”; Headquarters: Tokyo, Japan; President and CEO: Toru Hashimoto) have completed the acquisition of 87.5% of the share capital of GROHE Group S.à r.l., one of the world’s leading providers of premium sanitary fittings (Corporate Centre: Düsseldorf, Germany; CEO: David Haines. Hereafter called GROHE).

The implied enterprise value, including the assumption of debt, is €3.06 billion (428.4 billion JPY, €1=140 JPY), as announced on September 26, 2013. The shares were purchased from Glacier Luxembourg One S.à r.l., indirectly owned by TPG and DLJ Merchant Banking Partners. GROHE and Joyou, GROHE’s subsidiary company, became LIXIL-affiliated companies on January 21.

The transaction represents the largest ever German investment by a Japanese company and is another significant step in the implementation of LIXIL’s highly successful strategy to become the global leader in the building materials and housing equipment industry. It follows the acquisitions of American Standard Brands in August 2013, a leading North American manufacturer of a wide range of high-quality kitchen and bath products; Permasteelisa Group in 2011, a high-end curtain wall contractor in Italy; and American Standard Asia Pacific in 2009.

LIXIL will leverage GROHE’s extensive distribution network to expand its faucet business and, more generally, to strengthen its product offerings for complete bathroom solutions globally.

About LIXIL Corporation

Led by President and CEO Yoshiaki Fujimori, LIXIL Group Corporation (TSE Code: 5938) is a listed holding company posting 1.4 trillion JPY in consolidated sales in FY March 2013. The Group is involved in a broad spectrum of housing-related businesses, ranging from the manufacture and sales of building materials and housing equipment to the operation of home centers and a network of homebuilding franchises.

LIXIL Corporation, a consortium of building material companies, is a core enterprise of the Group, generating 80% of consolidated sales. The largest housing and building materials company in Japan with a vast and unique business portfolio, it is a leader in eight market categories, with a 55% share in exteriors, 50% share in housing sashes and doors, 50% share in curtain walls and 40% share in sanitary ware. LIXIL is also a leading brand in tiles, bathroom furniture, and bathroom and kitchen units.

Launched in April 2011 under its present structure and name, LIXIL has been active in strategic acquisitions and partnerships in order to fortify and accelerate its growth in foreign markets. It currently operates in more than 30 countries through various brands offering a broad line-up of products and services. Permasteelisa, Gartner and Shanghai Meite, for example, spearhead our project business (building materials and curtain walls), while LIXIL, American Standard Asia Pacific, Inax and Tostem are power players that feature an impressive brand portfolio including kitchen units, bathroom fixtures, windows and doors. For more information about LIXIL Group, please visit http://www.lixil-group.co.jp/

About GROHE

The GROHE Group comprises Grohe AG, Hemer, Joyou AG, Hamburg, (fully consolidated since 1 July 2011) and other subsidiaries in foreign markets.

Grohe AG is Europe’s largest and the world’s leading provider of sanitary fittings under one brand. As a global brand for sanitary products and systems, GROHE relies on its brand values quality, technology, design and responsibility in order to be able to offer “Pure Freude an Wasser”.

The GROHE Group employs some 9,000 people on average worldwide (including around 3,400 at Joyou). There are about 2,300 employees working at GROHE in Germany. In 2012, the GROHE Group generated consolidated sales of €1,405 million.

GROHE has six production plants, of which three are located outside Germany, namely in Portugal, Thailand and Canada. The company currently generates 85 percent of its sales outside Germany. For more information about GROHE Group, please visit http://www.grohe.com/

 

 

استكمال عملية استحواذ شركة LIXIL وبنك التنمية الياباني على 87.5 % من  أسهم مجموعة  GROHE Group

استكملت شركة LIXIL (ويقع مكتبها الرئيسي في توكيو –اليابان ويترأسها يوشيكاي فوجيموري بصفته مديرها التنفيذي) وبنك التنمية الياباني (ويقع مكتبه الرئيسي في توكيو –اليابان ويترأسه تورو هاشيموتو بصفته مديرها التنفيذي (عملية الاستحواذ على 87,5 بالمئة من مجموعة أسهم GROHE group (ذ.م.م.) الرائدة عالمياً في قطاع التجهيزات الصحية للمطابخ والحمامات) ويقع مركز الشركة في دوسلدورف- ألمانيا ويترأسها ديفيد هاينس بصفته رئيسها التنفيذي) ويشار إليها في ما يلي بتسمية GROHE.

تجدر الإشارة إلى أن قيمة المشروع الضمنية، بما في ذلك تحمل الديون تبلغ  3,06مليار يورو (أي ما يعادل  428.4 مليار ين ياباني، سعر الصرف 140 ين ياباني مقابل يورو واحد) كما أعلن في 26 سبتمبر (أيلول) 2013. وبموجب هذه الصفقة، تم شراء حقوق ملكية شركة جلاسيه لكسمبرغ وان ذ.م.م.(Glacier Luxembourg One) المملوكة بشكل غير مباشر من شركتي DLJMBP وTPG.  وهكذا تصبح شركة GROHE وشركة Joyou التابعة لها، إحدى شركات مجموعة LIXIL ابتداء من 21 يناير (كانون الثاني).

تمثل هذه الصفقة أكبر استثمار على الإطلاق تقوم به شركة يابانية في شركة ألمانية، وخطوة بارزة أخرى تحقق المزيد في سبيل تنفيذ استراتيجية LIXIL الرامية إلى بناء منصة رائدة عالمياً في مجال صناعة مواد البناء وقطاع تجهيزات الإسكان. وتأتي هذه الخطوة عقب صفقات الاستحواذ التي تمت في شهر أغسطس (آب) من العام 2013 على المصنّع الرائد لمجموعة واسعة من منتجات المطبخ والحمام عالية الجودة في أمريكا الشمالية American Standard Brands؛ وقبلها في العام 2011 على متعهد ورق الجدران والستائر الرائد في إيطاليا مجموعة Permasteelisa؛ وقبلها في العام 2009 على American Standard في آسيا والمحيط الهادئ.

يذكر أن شركة LIXIL  ستقوم على تفعيل شبكة توزيع GROHE لتوسيع أعمال الصنابير خصوصاً وتعزيز تقدماتها على مستوى العالم في ميدان منتجات الحمام وحلولها المتكاملة عموماً.