OASE is a leading global supplier of “living water” solutions for water gardens and fountain technology to both consumers and commercial businesses.
Founded in 1949, OASE began the expansion of its operations across Europe in the early 90s, followed by the USA and Asia. Its extensive product range includes water pumps, water filters and aerators, water cleaning and care, illumination and power management, as well as decoration and pond/pool construction.
During Equistone’s investment period, OASE has demonstrated strong growth, with revenue increasing from €99m in 2011 to €156m forecast for 2017 and having grown its employee numbers from 500 to 750 worldwide.
Equistone Funds worked closely with the management team to support its growth strategy and plans for geographic expansion and innovative product development through four successful build-ups:
- EDEN, an Italian manufacturer of innovative aquarium products and water gardens, was acquired in April 2013.
- Florida-based Geo Global Partners, acquired in February 2014, strengthened OASE’s position in the US and established the business as the global market leader in water gardening products.
- In December 2015, OASE acquired the assets of Reef One in the UK, including the biOrb indoor aquatics product brand.
- An existing and outdated factory in China was completely rebuilt and its processes adapted to today’s requirements.
Additionally, Equistone Funds supported the management team with succession planning and in March 2017, Thorsten Muck, OASE’s former head of sales, was appointed to the role of CEO, replacing Ansgar Paul, who became chairman of the group.
Equistone Fund III sold its investment in OASE to US private equity firm, Argand Partners, in October 2017.
Equistone's experience in securing international growth for its investments, together with its support for the strategic expansion of our product portfolio and the acquisition of companies and brands, has been a huge help for us.