Deal Details

Sale to Argand Partners

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Summary

About

Oase Group (“OASE”), a portfolio company of funds advised by Equistone Partners Europe (“Equistone”), has been acquired by Argand Partners (“Argand”).

OASE operates in two business areas, as a global specialist for water gardens and indoor aquatics. OASE distributes its offering to private customers (B2C) through specialist distributors, garden centres and the DIY sector. OASE aligns its own e-commerce activities with its distribution partners. OASE’s core products include pumps, filters and other accessories for private garden ponds, swimming ponds and aquariums. OASE also markets its fountain technology and lake management solutions to commercial customers (B2B) and has implemented numerous spectacular installations such as the "Crane Dance" project in Singapore, the "Dancing Fountains" at the World Towers in Mumbai (India) and the multi-media fountain installation in front of the Petronas Towers in Kuala Lumpur (Malaysia). OASE has a global footprint with production sites in Germany, Italy, the United Kingdom, the Netherlands and China. Equistone acquired the majority share in OASE in June 2011. Over the course of Equistone's investment, OASE, which was founded in 1949, has continuously expanded. Revenue increased from approximately €100 million in 2011 to around €155 million in 2017, with profit also growing during this period. OASE currently employs around 750 people worldwide. OASE is headquartered in Hörstel, Germany

Equistone is an independent investment firm wholly-owned and managed by its executives. Equistone is one of Europe’s leading investors in mid-market buyouts with a strong, consistent track record spanning over 30 years, with more than 400 transactions completed in this period. Equistone has a strong focus on change of ownership deals and aims to invest between €25 million and €125 million of equity in businesses with enterprise values of between €50 million and €500 million. Equistone has a team of over 35 investment professionals operating across France, Germany, Switzerland and the United Kingdom, investing as a strategic partner alongside management teams. Equistone is currently investing its fifth buyout fund, which held a final closing at its €2 billion hardcap in April 2015. Equistone is authorised and regulated by the Financial Conduct Authority. Equistone is headquartered in London, the United Kingdom.

Argand is a New York- and San Francisco-based middle market buyout firm founded in 2015 by long-time colleagues, Heather Faust, Howard D. Morgan, and Tariq Osman. Argand is a growth-oriented, control investor focused on complex, often contrarian, situations that involve solid, market-leading industrial and industrial-oriented consumer businesses, often with significant global operations and expansion opportunities. The Argand team has a disciplined approach of investing in businesses that have the potential for transformational value creation through the implementation of managerial, operating, and strategic initiatives. Argand focuses on investments into manufacturers and service providers, where the team has deep sector experience and can leverage its senior executive advisory network to drive the rapid execution of an investment thesis. Argand is headquartered in New York, New York and San Francisco, California.

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