IK Investments has sold its share of kitchen sink manufacturer Schock to Triton, an investment company, for an undisclosed sum.
Triton is an investment firm that invests primarily in German-speaking countries, the Nordic countries, the Benelux region, France, Italy, Spain and the United Kingdom.
It focuses on companies “with the potential to create sustainable, long-term value through changing economic cycles”.
It currently has investments in 46 companies in Europe, with combined sales of around €18.2bn and around 101,000 employees.
Schock is known for its granite sink models, including its latest Green Line collection, made up of 99% renewable or recycled raw materials, and with a marketing campaign led by Iggy Pop.
The sink manufacturer has more than 2,000 trade customers across 70 countries, providing a choice of 200 models in 40 colours.
Based in Regen, Bavaria, Schock employs over 500 people and manufacturers is products exclusively in Germany.
Under its IK Investments ownership, Schock reports it has doubled its operating profit, while investing resources into production capacity expansion, operational efficiency and product development.
CEO of Schock Ralf Boberg said: “We are very grateful to the IK team for their help and support over the last four years.
“During this time, we have invested in our innovative and sustainable product range, as well as enhanced our brand and reputation in the market for high-quality, durable and stylish sinks.
“We are looking forward to collaborating with Triton to build on this foundation and continue our trajectory of growth.”
Co-head consumer at Triton Ruth Linz commented: “We are excited to invest in Shock for the next stage of the company’s development.
“It is not often that an opportunity arises where we are able to partner with such a strong brand with significant future growth potential, especially in the US.
“We look forward to working with Shock to take it to the next level of growth.”