Ideal Standard International sold to investors

28 Mar, 18

Anchorage Capital and CVC Credit Partners now only shareholders

Bathroom manufacturer Ideal Standard International has been acquired by Anchorage Capital and CVC Credit Partners, with the transaction marking the completion of refinancing the group’s debt. 

New York-based investment adviser Anchorage Capital became a key shareholder of Ideal Standard International in 2014, joined later by credit management business CVC Credit Partners.

Both investors provided an additional €75million in 2017 to help drive the company’s long-term growth strategy.

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Representatives of Anchorage Capital and CVC Credit Partners will take a position on the board.

CEO of Ideal Standard International Torsten Turling commented: “I am delighted to announce this important step in the continued development of our company. With the unequivocal backing of our investors who believe in the future and long-term potential of our company, Ideal Standard International now has a healthy balance sheet and clarity in its ownership structure.

“I want to thank Anchorage Capital and CVC Credit Partners for their trust and continued support, and I look forward to working with them to drive our growth strategy, build on our strong heritage and deliver read value for our customers.”

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