The Grohe Group has entered into an agreement with LIXIL Corporation and Development Bank of Japan in relation to the sale of an 87.5 percent equity interest in Grohe Group from TPG and DLJ Merchant Banking Partners. This transaction represents the largest-ever German investment by a Japanese company.
Grohe remains independent and continues to implement its plan for long-term, sustainable and profitable growth. With the support of LIXIL, this will also include becoming a consolidator in the global sanitary industry.
“We are proud to have played our part in the remarkable transformation of Grohe over the last 10 years into a truly first-class global business,” said Stephen Peel, managing partner at TPG. “Grohe and its management will be a great combination with the LIXIL Corporation.”
