Belgian bathroom specialist X2O has a new majority shareholder: investment fund Waterland says it can help fulfil the retailer’s international potential, beyond the three markets it currently operates in.
New growth phase
Founder Jan Ollevier and investment fund Vendis are diluting their shares in the company to allow Waterland to take a majority stake, they say in a press release. The new shareholder intends to support X2O’s further international expansion. The chain is already active in Belgium, Germany and the Netherlands, and achieved sales of 180 million euros in those markets last year with more than fifty showrooms and webshops.
“We are looking forward to entering this new growth phase with Waterland”, X2O CEO Peter Demets said. “Our company has extensive experience in working with investors to achieve key milestones together, and we believe Waterland’s strong track record and strategic approach make them the ideal partner for us. This carefully considered partnership ensures continuity, allowing us to further expand our presence and continue to deliver superior value and experiences to our customers.”
