Villeroy & Boch is primarily based in Central and Northern Europe and Asia. On the other hand, Ideal Standard focuses on Great Britain, Italy, the Middle East and North Africa. The company also relies on project work, for example with hotels. Goering and CFO Warnke see additional growth potential. They are even thrilled enough to promise not to lay off any of Ideal Standard’s more than 7,000 employees. Management should also be retained. Maybe in a couple of years, it will be about “improving” something, says Goering.
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Ideal Standard has not been in good shape until recently. Since 2018, the company has been owned by two private equity firms. For years, the company was primarily interested in restructuring, improving and closing production facilities. According to Goering, Ideal Standard still has eight production plants today. In 2017 there were 15. Things have been going better lately. In 2022, the company’s adjusted EBITDA was approximately €74 million. Villeroy & Boch says it is only buying four companies from Ideal Standard, which are the operational parts. Goering says the company does not acquire companies laden with debt. The company is financing the deal using existing liquid assets and borrowed capital of approximately 250 million euros.
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