Oras

Oras, the Nordic market leader, develops, manufactures and markets user-friendly, water and energy saving sanitary fittings. As early as the 1990s, it introduced the first touchless electronic faucets on the European heating, ventilation and air conditioning market, and today the company leads market development with its smart faucets. Combining Oras and Hansa creates a new Oras Group (combined turnover of €260 million), a European leader with potential for further expansion internationally. Both Oras and Hansa brands will be developed after the transaction. Pekka Kuusniemi, President and CEO of Oras Group, describes the acquisition as a quantum leap into the German and Continental European markets: "The Nordic Countries are our strong home markets and we have been looking for an effective way to expand into Continental Europe. The German market alone is ten times bigger than Finland and it accounts for almost 20% of the entire European market. Together, as a new company twice the current size of Oras and with a considerably strengthened market position, we are well equipped for sales growth. Hansa has a strong market position, highly renowned product quality and a recognised brand all over Continental Europe. Geographically, Oras and Hansa are an excellent fit. Joining forces with Hansa considerably enhances our future prospects. Yet, we are humbly aware of the demanding task ahead as we integrate two companies of same size into one value creating entity." Christopher Marshall, CEO of Hansa Group also welcomes this transaction and notes: "IK's commitment to Hansa's long term success is apparent and will be well served in Oras' family driven culture. We bring two complementary companies together that are both in good shape and willing to grow. Both companies manufacture high-quality products, have respected brands, employ competent people and have strong positions in our respective markets. We can learn a lot from each other and find synergies in sales, operations and product portfolios. Combining our strengths will enable us to achieve market positions that neither company could on their own." Detlef Dinsel, Managing Partner at IK: "The sale of Hansa marks the full exit of Hansa Group by IK to two strong strategic partners - Oras (HANSA) and Franke (KWC). We are pleased to have successfully restructured Hansa and improved its competitive position and profitability. Together Hansa and Oras will be a strong pan-European market leader which is ready to expand further in international markets and reach the next level. We would like to thank the Hansa management team and employees for their efforts and professionalism and wish them all the best for the future."