The Global Mid-Market Specialist
Alantra, a global investment banking and asset management company focused on the mid-market segment, has advised Wilbur Curtis, the second largest American manufacturer of professional coffee equipment, on its sale to Groupe SEB, the world reference in small domestic equipment. The transaction is subject to customary regulatory clearances and is expected to be finalized in February 2019.
Founded in 1941, Wilbur Curtis manufactures and markets equipment for the preparation of hot and cold beverages, mainly filter coffee and cappuccino machines. Sustained investment and a continuous commitment to innovation have enabled Curtis to offer many of the US market’s best-in-class product offerings.
Wilbur Curtis’ sales have been increasing steadily, amounting to more than $90M, primarily in the US. Major customers include coffee roasters, specialty coffee retailers, convenience stores, fast-food chains, hotels and restaurants. Wilbur Curtis has built and maintains a long-term relationship with its customers, leveraging its professional salesforce and ensuring extensive national coverage. Its high-performance production facility located in Montebello, California, employs 300 people.
Groupe SEB has a unique portfolio of top brands including Tefal, Rowenta, Moulinex, Krups, Lagostina, All-Clad, WMF, EMSA and Supor, marketed through multi-format retailing. Selling some 300 million products a year, it implements a long-term strategy focused on innovation, international development, competitiveness and service to clients. Groupe SEB operates in nearly 150 countries and has around 33,000 employees worldwide.
David Waldstein, Director at Alantra, said: “We are very pleased with the outcome of this transaction and are convinced Groupe SEB is the right long-term partner for Wilbur Curtis. The process was highly competitive and resulted in the highest multiple ever paid in the industry. It is a great testament to how our strong geographical reach can add real value to our clients. Moreover, this transaction is yet another demonstration of Alantra’s deep sector specialization in the coffee and coffee equipment segment having advised nine transactions in the space in recent years and two in the last 12 months.”
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