GROHE America, Inc., announced that Texas Pacific Group (TPG) and Credit Suisse First Boston Private Equity (CSFB Private Equity) have purchased German-based parent GROHE Water Technology AG through a consortium agreement with previous owner BC Partners (BC Funds). A highly successful brand in the plumbing products market, GROHE currently ranks among the top three faucet manufacturers in the world with distribution in more than 180 countries.

GROHE management welcomed the sale decision by BC Partners in favor of the investor consortium. Peter Körfer-Schün, the company's CEO, said, "This solution maintains the independence of our company, which may still be taken public at a later stage. 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."

Stephen Peel, partner of TPG in London, confirmed this: "We believe GROHE is a superb company with great growth potential." Colin Taylor, managing director of CSFB Private Equity, added: "We look forward to working with management and employees to further develop the business globally and continue the outstanding work that has been done so far."