GROHE Water Technology AG, the German-based parent of GROHE America, has been purchased by Texas Pacific Group and Credit Suisse First Boston Private Equity through a consortium agreement with BC Partners, the previous owner.
“This solution maintains the independence of our company, which may still be taken public at a later stage,” Peter Körfer-Schün, GROHE's CEO, said in a statement. “Our immediate objective now is to define the company's strategy for the coming years together with the consortium, and our joint efforts will focus on strengthening our profitability.”