Investment group Adcuram has signed an agreement to purchase the components division of Haas Group in Germany.
The acquisition includes Bayerwald and Hoco, which both manufacture windows and doors from PVC, wood and aluminum, along with Wo&Wo, a solar lighting design company. In total, the companies generate 100 million euros ($107.2 million) in sales and have approximately 800 employees.
Completion of the acquisition, for which no purchase price was disclosed, is subject to antitrust approval.
In a Nov. 3 Adcuram statement, Tanja Haas-Lensing, managing director of Haas Group, said the sale of the components business followed a strategic decision for Haas Group to focus on its core timber business.
Bayerwald is based in Neukirchen vorm Wald. It has approximately 300 employees and annual sales of nearly 40 million euros ($42.8 million). The company's website says its annual production is 100,000 windows and 7,000 doors.
Hoco currently has 250 employees at operations in Germany, Austria and Italy. It has annual sales of about 30 million euros ($32.1 million).