OASE acquires Geo Global Partners
The OASE Group, headquartered in Hörstel, Germany, is pleased to
announce that they have acquired Geo Global Partners (West Palm Beach),
the leading North American provider of innovative water gardening
brands. The transaction has been closed with immediate effect and the
terms were not disclosed.
The aim of this acquisition is to further
strengthen both the market position of OASE in North America and the
combined position as the global market leader in water gardening.
Geo
Global Partners markets mainly in the beginner-to-intermediate water
gardening segments in various distribution channels in the US, Canada,
and Mexico. This fits perfectly with the complementary product range of
OASE. The OASE START products will allow for significant expansion
within the intermediate segment. Furthermore, OASE is the industry
quality and innovation leader and the OASE PRO products will cater to
the expert segment. The combined group can now provide the full-range of
product diversity in North America as they have in their home market in
Europe.
“The current water gardening activities of the OASE Group in
North America will be merged with Geo Global Partners step by step.
OASE’s Fountain Technology business with its subsidiary in California
remains untouched,” explains Andreas Szabados, President of OASE North
America.
“Second to Europe, the North American market for water
gardening has the greatest potential. As the European market leader we
are very happy that we are now ade- quately established in this
important region,” says Ansgar Paul, CEO of OASE. “We are convinced that
our cooperation with the successful and dynamic team of Geo Global
Partners offers excellent prospects for our future business.”
“OASE and
Geo Global Partners together will create the most innovative and
comprehensive water gardening business in North America. We will be able
to better serve our customers utilizing our integrated world-wide
distribution and supply chain as well as to provide our end-users with
the latest innovation and the highest quality German engineered
products.” says Douglas Ward, President of Geo Global Partners. “From
the beginner to the experienced landscaper, The OASE Group’s products
will transform and inspire the North American water gardening
industry.”
“This transaction represents a further successful step in the
execution of our strategic expansion plan for OASE,” states Michael H.
Bork, Senior Partner of Equistone Partners Europe, Munich. After the
acquisition of the Italian business EDEN S.r.l. last year, the financial
investor, which is advising the main shareholders of OASE, once again
has proven its continuous support to invest in a well-established
company with high growth potential. p>
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