VR Equitypartner and co-investors have acquired a majority stake in Heizungsdiscount24
Heizungsdiscount24 (HD24) is a German e-commerce retailer of heaters and adjacent periphery products serving both primary end consumers (business-to-consumer) and heating installers (business-to-business). HD24 has a comprehensive product portfolio of approximately 20,000 articles, which includes all leading manufacturers such as Vaillant, Viessmann, Buderus, Wolf, etc., as well as its own private label brand HD24. The company also offers planning and advisory services prior to the purchase of heating systems. HD24 redirects installation requests to a network of 35 installation partners.
Since its founding in 2006, HD24 has quickly developed into one of the leading independent online retailers of heating equipment and currently serves over 500,000 customers across Germany. The company is now looking to accelerate the already strong growth to become the “full-service provider” on the German heating market. VR Equitypartner (VREP), alongside co-investors and founders, will help HD24 in pursuing the next level of growth by developing the company at the organization level, expanding the installation partner network and optimizing the buy-and-build potential. Lincoln International managed to obtain and arrange the most appropriate financing structure in a timely manner.
Dominik Spanier, Managing Director and head of Lincoln International’s DACH debt advisory activity, commented, “It’s been a great pleasure to advise VREP on the financing of its acquisition of HD24. We are excited for the entire team and hope this new partnership will enable the company’s next growth phase.”
VREP is one of the leading equity investors for medium-sized companies in Europe’s German-speaking countries. The company supports medium-sized family companies in implementing growth plans, financing expansion as well as succession matters and shareholder structure changes. With over 50 years of experience, VREP’s portfolio currently includes 60 companies with a total investment of €400 million.
Lincoln International's Capital Advisory team was very helpful in choosing the right debt provider and structure for this fast-growing e-commerce transaction.
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