Carlsquare advises the founders of Wibit Sports, the world leader in floating water parks, on the sale of a controlling stake to Argos Wityu
29 Oct 2018
The independent pan-European investment company Argos Wityu acquired a controlling stake in Wibit Sports GmbH (Wibit), the world market leader for floating water parks based in Bocholt, Germany. Wibit produces floating inflatable water parks from inflatable PVC modules, which are used as leisure attractions in open waters off the coast, in lakes, outdoor and indoor pools in around 90 countries. It is the unchallenged market leader in this self-established industry. With Argos Wityu as its strategic partner, the company wants to accelerate its international growth and further expand and diversify its successful business model. The two company founders will continue in their co-CEO positions and will remain involved with the company for the long-term.
With the development of the first modular water parks in 2008, Wibit’s growth momentum picked up significantly. From Wibit’s position as market leader, the founders now want to use this dynamic growth to further advance the internationalisation of the company and to expand the business model through organic growth and a targeted diversification. They have been looking for a long-term entrepreneurial partner to support Wibit with growth capital, an international network and extensive experience in the development of management and sales structures. In a competitive and selective process, the choice was made in favor of Argos Wityu – not least because the company has an unusually large international network for its market segment and proven expertise in supporting the growth scenarios of companies.
Robert Cirjak and Romann Rademacher, Co-CEOs and founders of Wibit Sports, said, “The strategic partnership with Argos Wityu is a major step forward in the further development of our company. Wibit wants to become bolder, better and bigger than it is today. We combine sportsmanship with an entrepreneurial passion and are ready now to move up from the Bundesliga to the Champions League. Together with Argos Wityu, we want to seize the growth opportunities before us. Now we can realize many projects for which we need additional financial, personnel and organisational capacities. We are convinced that with Argos Wityu we have a strong strategic partner by our side – the team’s expertise and extensive international experience has convinced us. Carlsquare as our financial advisor has helped us excel during the transaction, from preparing and positioning to managing the competitive bidding field of international financial investors to be able to achieve the best possible results for Wibit.”[nbsp]