Equistone supports corporate succession at the GALA Group and acquires majority share
"‹The GALA Group, headquartered in Wörnitz (Bavaria) has been steadily expanding its business areas and product range since it was founded in 1972. The company supplies major supermarkets, drugstores and discounter chains with scented candles, tea lights, grave lights, pillar and rustic candles and is represented in more than 25 countries through a network of distribution partners. The GALA Group has been recording significant and sustainable growth for many years. In the current financial year, it is on course to post revenues of more than €70m. Company founder Horst Langhammer is now retiring and stepping down as a managing director. Dirk Langhammer remains Group CEO and is still a shareholder in the GALA Group.
“The management of the GALA Group thinks
in an impressively entrepreneurial manner. This is evident from the
impressive growth figures of the last few years. The company is
excellently positioned to deliver further expansion in a consolidating
market. We now want to drive forward growth, both organically and
through strategic acquisitions,” said Dirk Schekerka, Managing Director
and Partner at Equistone. “We are looking forward to the future
collaborative partnership with Dirk Langhammer and all the
“As a financially strong private equity investor with experience of medium-sized companies, Equistone is the right partner for us at the right time. We have high hopes for the future cooperation and look forward to the growth stimuli from our new majority shareholder,” explained Dirk Langhammer, CEO of the GALA Group.
Dirk Schekerka and Leander Heyken led the transaction for Equistone Partners Europe. Equistone were advised on the deal by KPMG (Financial), Watson Farley (Tax), PwC (Commercial), P+P (Legal Corporate), Sherman (Legal Financing) and Wolf Theiss (Legal and Tax Hungary).
Debt financing for the transaction was provided by BayernLB.
The parties have agreed not to disclose the purchase price. p>
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