Hörstel, 3rd March 2014. 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 complimentary 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 adequately 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.
The OASE Group:
Headquartered in Hörstel, Germany, OASE is a company with now more than 700 employees worldwide and production facilities in Germany, Italy and China, doing business in two segments:
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