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In a realignment of ownership, Equistone Partners Europe have sold their majority stake in Oikos Group, one of Europe’s largest prefabricated modular home builders, to West Street Capital Partners VIII, a fund managed by Goldman Sachs.
Equistone acquired modular home builder Oikos Group, headquartered in Schlüchtern, Germany and consisting of the brands Bien-Zenker, Hanse Haus and Living Haus, at the beginning of 2018.
The financial terms of the transaction were not disclosed.
The modular home building Oikos Group, which, beyond its core market Germany, is active in Austria, Switzerland, and the UK, currently employs around 1,300 people and increased its turnover to more than EUR 400 million in 2020.
“Oikos has successfully established itself as one of the leading European providers of prefabricated houses, with a strong and innovative product and brand portfolio. We are delighted to invest into the future of sustainable construction and look forward to supporting Oikos in realizing its growth ambitions,” said Mike Ebeling, Managing Director at Goldman Sachs. “We are impressed by the high quality and strength of Oikos’s management team led by Marco Hammer and are very excited about our partnership with them.”
“Together with Equistone, we have been able to strengthen our leading position across Europe, targeting important areas such as digitalization as well as the expanding our competence in ESG and a sustainable marketing strategy. We look forward to continuing this successful growth trajectory with Goldman Sachs in the future,” added Marco Hammer, CEO of Oikos Group.
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