Grohe America Inc., Bloomingdale, Ill., announced that Texas Pacific Group (TPG) and Credit Suisse First Boston Private Equity (CSFB Private Equity) have purchased German-based parent Grohe Water Technology AG through a consortium agreement with previous owner BC Partners (BC Funds).
GROHE still ranks among the top three faucet manufacturers in the world, with distribution in more than 180 countries. Its immediate objective, according to CEO Peter Körfer-Schün, “is to define the company's strategy for the coming years together with the consortium, and focus on strengthening our profitability.”
Grohe's export share stands at approximately 75 percent, and employs more than 5,800 in 130 countries. The company's sales in 2002 was $1.10 billion (USD).