EQT IV acquired Sanitec in 2005. Sanitec is the leading producer of bathroom ceramics in Europe. The company has a number one or two position in bathroom ceramics in 12 of its 13 core markets and commands a strong position in growth markets, including Russia. Sanitec’s brand portfolio includes many of the longest-established and most well-known brands on the European bathroom fixtures market. The products are primarily sold to wholesalers, as well as directly to retailers (including DIY outlets) and installers, and benefit from longstanding and stable customer relationships.
Sanitec was listed on Nasdaq OMX Stockholm in December 2013. EQT IV completed a further partial sell-down through an accelerated book build offering in May 2014, and the final sell-down in connection with the completion of the public tender offer by Swiss sanitary technology group Geberit AG in February 2015.
Key events during EQT's ownership
- Industrial transformation journey “One Sanitec”, including full supply chain overhaul, new organization, and revitalization of product offering
- Financial restructuring in 2009, in order to execute on the operational restructuring initiatives
- Disposal of non-core businesses
- Recapitalisation via a bond offering in May 2013
- Initial Public Offering on NASDAQ OMX Stockholm in December 2013
- Partial sell-down in May 2014
- Acquisition and delisting by industry peer Geberit AG in February 2015