Grohe

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Grohe AG

logo
legal form Corporation
founding 1911/1936
Seat Hemer GermanyGermanyGermany 
management Thomas Fuhr ( CEO )
Number of employees around 6000
sales 1.23 billion euros (2018)
Branch Plumbing industry
Website www.grohe.com

Kitchen faucet

The Grohe AG is a German manufacturer of faucets and plumbing products with registered office in Hemer and administrative headquarters in Dusseldorf . Grohe has been part of the Japanese Lixil Group since 2014 . Grohe is not identical to the Hansgrohe company , which is also a German fittings manufacturer.

history

Grohe as a family company (until 1998)

In the middle of the picture: Hemer plant (2015)

In 1936, Friedrich Grohe , the son of the Schiltach fittings manufacturer Hans Grohe (see Hansgrohe ), bought the small iron factory Berkenhoff & Paschedag, founded in Hemer in 1911, with the consent of his father, and concentrated production on bathroom fittings . Two years after the purchase, the first orders from abroad were received. In 1948 the company was renamed Friedrich Grohe Armaturenfabrik .

In 1956, Grohe took over the Carl Nester Armaturenfabrik company, which was founded in 1873 and is based in Lahr / Black Forest . After the purchase, the company was renamed Grohe Thermostat GmbH . In the same year Grohe brought an automatic mixing valve with thermostat onto the market under the name Skalatherm , which was also called "Volksthermostat". In 1961 the first foreign subsidiary was founded in France. In 1962 the exclusive license of the single lever mixer invented by Alfred M. Moen was acquired. After Friedrich Grohe also took over the management of Hansgrohe in 1961 after the death of the then managing director (Hans Grohe Junior), he sold 51% of the shares in Friedrich Grohe Armaturenfabrik to International Telephone and Telegraph (ITT) in 1968 . In the following years the company set up foreign subsidiaries in the Netherlands (1973), the United States (1975), Great Britain and Spain (1978) and in Belgium (1979). In 1982 production started in the newly built Hemer-Edelburg plant. Under the brand name Ladylux, Grohe launched the first pull-out shower head on the US market in 1983. In 1983 Friedrich Grohe died; his sons Charles and Bernd Grohe bought back the company shares from ITT a year later. Since 1983, the company's products have been sold exclusively by Grome Marketing in the Middle East, the Eastern Mediterranean, and North and West Africa. Later in 1993, Grohe acquired 50 percent of Grome , resulting in a joint venture between Mesma Holdings Ltd. and the Grohe AG.

In 1989 part of the plant in Lahr was rebuilt and a logistics center in Hemer-Edelburg was opened. In 1991 the company Herzberger Armaturen GmbH in Brandenburg and the fittings factory HD Eichelberg & Co. GmbH from Iserlohn, founded in 1817, were bought up. In addition, the company was converted into the Aktiengesellschaft Friedrich Grohe AG and listed on the stock exchange. The merger with the DAL / Rost group founded in 1910 resulted in a plant in Porta Westfalica in 1994 . In addition, Tempress Ltd. from Mississauga in Ontario ( Canada accepted). A new technical center and factory administration were built in Hemer. In 1996 Grohe expanded to Portugal and Thailand . In 1997 a design center was opened at the headquarters in Hemer.

Owned by financial investors (1999-2014)

In 1999 the company was sold in full to the BC Partners investor group for an estimated 1.2 billion euros . According to Charles Grohe, the reason was the unbearable political framework . The Grohe family held 74% of the ordinary shares. It is estimated that BC Partners, along with other investors, raised around $ 390 million from their own funds, the remainder from borrowing. In 2003, the company paid back EUR 200 million of the capital brought in by the shareholders, including interest. Critics say the company and its employees paid for their own sales this way.

At the time of the sale, Grohe was the world market leader and in 1999 had a return on sales of around twelve percent and an equity ratio of around 50 percent. The previous expansions were financed from reserves.

In 2004, Grohe was sold by BC Partners to a consortium of investors made up of the Texas Pacific Group and CSFB Private Equity (a subsidiary of the Swiss Credit Suisse ). The new investors paid around 1.5 billion euros upon entry.

Grohe Technology and Design Center, Hemer-Edelburg (2005)

In order to bring the company back to sales and earnings growth after years of stagnation, savings of 150 million euros per year from 2007 were announced in 2005. At the German production sites in Lahr, Hemer and Porta Westfalica, around 950 jobs were to be cut as part of a restructuring to reduce fixed costs. In addition, the plant in Herzberg / Elster was closed. At the same time, around 500 new jobs outside Germany were to be created by relocating and expanding production in Thailand and Portugal. The company also planned investments of around 200 million euros by 2009, around two thirds of which in Germany in the optimization of production technology and logistics. This restructuring is important from an economic point of view, as it triggered the locust debate initiated by Franz Müntefering in 2005 .

In 2008, Hemer's corporate headquarters moved to Düsseldorf.

In spring 2011, Grohe took over a majority stake in the Chinese plumbing market leader Joyou and successfully concluded a public takeover offer.

Faucet made in a 3D printer

In May 2013, then Grohe CEO David Haines confirmed that the company would examine all options for investors to exit. At this point in time, however, there were no concrete plans. In the event of a return to the stock exchange, capital market circles estimated the value of the company at up to 4 billion euros.

Takeover by Lixil (since 2014)

In January 2014, the Japanese Lixil Group and the Development Bank of Japan (DBJ) acquired a total of 87.5 percent of Grohe. Grohe remains an independently managed brand within the Lixil Group.

In mid-2014, Grohe acquired the majority in the Watertech portfolio from Dawn Ltd. The new company, which was named Grohe Dawn Watertech Holdings Pty Ltd , is 51 percent owned by Grohe and 49 percent by Dawn. One of the investment brands is Cobra , which was founded by Friedrich Grohe.

On January 1, 2015, Michael Rauterkus became CEO of Grohe AG. Since 2015, the gross profit has increased by more than 15% from around EUR 308 million to EUR 356 million. At the same time, research expenditure rose by almost 15% to EUR 31.8 million. The number of employees increased by 11% to 2066 in the 2017/2018 financial year.

On May 21, 2015, the Joyou subsidiary filed for insolvency proceedings with the Hamburg District Court .

Thanks to investments and the creation of new jobs, the Lahr site, which specializes in plastics production and shower systems, became the largest Grohe plant in Germany with over 700 employees. In May 2017, Grohe took over the remaining 50 percent of the shares in the Grome Marketing joint venture from Mesma Holding Ltd. In November 2017, Grohe opened a new production facility in Klaeng , Thailand. Also in 2017, Grohe brought a programmable shower toilet onto the market and opened the new Smarthome product area , through which the company sells a water sensor with the Grohe Sense and a networked system with Grohe Sense Guard that is supposed to protect against burst pipes and leaks.

On July 1, 2018, the company founded Grohe Logistik Service GmbH, its own company for its logistics division, which is managed under the umbrella of the company. 250 employees at the locations in Hemer and Porta Westfalica switched to the new company.

At the ISH trade fair in March 2019, Grohe presented a faucet made from specially produced metal powder in a 3D printer. At the same trade fair, Miele , Viessmann and Grohe started a cross-sector dialogue in the field of intelligent living for digitization in living spaces and digital transformation in companies and industries.

In July 2019, Thomas Fuhr, who had been responsible for operational business until then, succeeded Michael Rauterkus as CEO. At the same time, Jonas Brennwald, who had previously been Head of Sales, was appointed Deputy CEO of Grohe AG.

Bathroom cartel

Grohe had to pay a fine of 54.8 million euros in 2010 due to the involvement of the previous management in a price cartel from 1992 to 2002. The companies Hansgrohe , Villeroy & Boch , Duravit , Kludi , Dornbracht and Hansa were also involved in the cartel . They have artificially increased prices to the detriment of retailers, craftsmen and consumers.

Awards (selection)

Friedrich Grohe AG has received several awards, especially since the 1990s. The most important awards include the German Marketing Prize 1996 and the Honorary Prize for Corporate Design and Design Management from the State of North Rhine-Westphalia . In total, Grohe has won more than 300 design awards since 2003.

  • 1996: German Marketing Prize
  • 1997: Honorary award for corporate design and design management from the state of North Rhine-Westphalia
  • 2004: Red Dot Design Award for the "F1" line of fittings
  • 2004: Materialica Design & Technology Award for the "F1" line of fittings
  • 2005: iF product design award
  • 2007: iF design award for "Allure"
  • 2009: iF product design award
  • 2011: Green Good Design Award from the Chicago Athenaeum Museum of Architecture and Design
  • 2014: Corporate Finance Consistency Award from Börsen-Zeitung . The newspaper paid tribute to the restructuring of the company under the direction of private equity investors and the "very successful conclusion" through the takeover of the Lixil Group
  • 2017: CSR award from the federal government for sustainable production and for labor and social standards in the category "Companies with 1000 or more employees"
  • 2017: As the only German company in the Change-the-World ranking of the US business magazine Fortune as one of 50 international companies whose global activities have a positive impact on society.
  • 2017: Iconic Awards , three Best of Best Iconic Awards for the “Blue Home” drinking water system, the “Concetto Professional” kitchen faucet and the “Euphoria 260” overhead shower. Grohe received four more prizes for two further mixer lines, a concealed mixer and a water safety system. In addition, Grohe's presence at the international plumbing and heating trade fair and the company's communication received awards.
  • 2017: iF Design Awards , three awards
  • 2017: Design award from the Central Association of Sanitary, Heating, Air Conditioning (ZVSHK) for the "Sensia Arena" shower toilet
  • 2018: ibau Stein im Brett Award in the category "Sanitary objects and accessories"
  • 2018: Green Product Award for the "Grohe Sense Guard"

Corporate structure

Former administration building in Hemer (2006)

The headquarters of Grohe AG is in Hemer, the head office in Düsseldorf. Grohe AG is a subsidiary of Grohe Holding GmbH. The American sister companies Grohe America Inc. and Grohe Canada Inc. are also held by Grohe Holding GmbH. Grohe Holding GmbH is 100 percent owned by Grohe Group S.à rl and is therefore included in the Lixil Group's consolidated financial statements.

The company's executive board consists of four members and is led by Thomas Fuhr as chairman of the executive board. Other members of the Board of Management are Jonas Brennwald as Deputy Chairman, Stefan Gesing as Chief Financial Officer and Michael Mager as Labor Director . The supervisory board of Grohe AG is made up of six members of the employee representatives and six members of the shareholders. The Chairman of the Supervisory Board is Kinya Seto, Chief Executive Officer of the LIXIL Group.

Plants and locations

Grohe has three production sites in Hemer , Porta Westfalica and Lahr / Black Forest as well as one plant each in Thailand and Portugal. Each plant specializes in the manufacture of certain products such as sanitary fittings, showers or sanitary systems. Innovations and developments are primarily driven from Germany. In addition, the design of the products is created by a team at the Düsseldorf location. Grohe Deutschland Vertriebs GmbH, based in Porta Westfalica, is responsible for sales in Germany.

With 26 of its own sales companies, 34 branches and associated independent commercial agencies, the company is present in over 130 countries. Grohe mainly sells its products to plumbers and retailers through plumbing wholesalers.

A list of the main branches :

Products

Grohe offers products in the three areas of bathroom , kitchen and smart home and related services.

Bathroom: In the bathroom fittings, the company provides, among other faucets and sinks made of ceramics, tubs - and shower fittings and related devices concealed ago. Grohe also offers toilets and launched a shower toilet in this segment in 2017. Also in the bathroom accessories such as towel - or toilet paper holder sold Grohe.

Kitchen: Grohe offers kitchen fittings such as taps, kitchen sinks and water systems that deliver still, sparkling or boiling water at the push of a button via the tap and with the help of appropriate water treatment systems. The company also sells supplements and accessories such as drinking water bottles and water filters.

Smarthome: In the Smarthome area, water sensors are offered under the brand name Grohe Sense , which detect leaking water and the risk of frost, measure the humidity and warn the user of problems via an app. The Grohe Sense Guard is installed on the main water line and is designed to detect leaks and burst pipes and automatically stop the water supply. The water sensors and Grohe Sense Guard are controlled via the company's own smartphone app.

literature

Web links

Commons : Grohe  - collection of images

Footnotes

Remarks

  1. ↑ 1936: Beginning of the Grohe company history with the purchase of the small iron factory Berkenhoff & Paschedag founded in 1911.

Individual evidence

  1. ↑ Corporate Structure
  2. ^ Benedikt Müller: data flow. In: Süddeutsche Zeitung. May 30, 2019, accessed July 8, 2019 .
  3. ↑ Consolidated financial statements for the business year from April 1, 2017 to March 31, 2018 of Grohe AG. March 20, 2019, accessed July 2, 2019 .
  4. ↑ a b c Karsten Langer, Christian Keun: Grohe family: Warm rain thanks to shower heads . In: Manager Magazin (online), July 16, 2004, accessed on September 17, 2017.
  5. ^ A b Edgar K. Geffroy : The only thing that bothers you is the digital customer . 2nd Edition. Redline Verlag, Munich 2013, ISBN 978-3-86414-345-8 , p. 178 f.
  6. ↑ Karsten Langer, Christian Keun: Grohe family: Warm rain thanks to shower heads. In: Manager Magazin (online). July 16, 2004, accessed September 17, 2017 .
  7. ↑ Jörg Braun: Grohe exudes a lot of confidence. In: Lahrer Zeitung. October 19, 2017, accessed January 16, 2019 .
  8. ↑ a b c d Friedrich Grohe AG & Co. KG History. In: Funding Universe. International Directory of Company Histories, Vol. 53. St. James Press, 2003, accessed January 16, 2019 .
  9. ↑ a b Hans Weide: Open factory gate in Lahr: Modern showers are pure wellness. In: bathe online. August 15, 2016, accessed January 16, 2019 .
  10. ↑ Ludwig Maximilians University of Munich, Grohe AG: Water Enjoyment Volume 5. Grohe History. March 2015, p. 277 , accessed on January 16, 2019 (English).
  11. ↑ James Morgan: Grohe acquires Mesma Holdings' stake in Grome JV. In: ConstructionWeekOnline. May 16, 2017, accessed on January 16, 2019 .
  12. ↑ Ludwig Maximilians University of Munich, Grohe AG: Water Enjoyment Volume 5. Grohe History. March 2015, p. 245 , accessed on January 16, 2019 (English).
  13. ↑ Note on this in: Iserlohner Kreisanzeiger und Zeitung , edition of June 8, 2019, part Hemer ("20 years ago")
  14. ↑ Financial investors: crazy . In: ZEIT ONLINE . ( zeit.de [accessed on January 16, 2019]).
  15. ^ Johannes Blome-Drees / Reiner Rang: Private equity investments in German companies and their effects on employees. Hans Böckler Foundation, October 2006, accessed on January 16, 2019 .
  16. ↑ Hagen Seidel: turned off the tap . In: THE WORLD . May 12, 2005 ( welt.de [accessed January 16, 2019]).
  17. ↑ 150 million euros per year: Grohe wants to cut jobs and relocate abroad . ( handelsblatt.com [accessed January 16, 2019]).
  18. ↑ a b Sanitary ware manufacturer cuts 1,200 jobs: Grohe decides on tough austerity measures . ( handelsblatt.com [accessed January 16, 2019]).
  19. ↑ Herzberg fittings factory (Elster). (No longer available online.) In: emazynxftp.de. Archived from the original on July 29, 2016 ; accessed on September 24, 2018 .
  20. ↑ Cornelius Welp: Grohe's large grasshopper balance . September 26, 2013 ( wiwo.de ).
  21. ^ By Sven Nölting: Grohe relocates headquarters to Düsseldorf . ( wp.de [accessed on January 16, 2019]).
  22. ↑ Frankfurter Rundschau: Grohe fittings manufacturer: With Kaizen to the world market leader . In: Frankfurter Rundschau . ( fr.de [accessed on January 16, 2019]).
  23. ↑ Grohe talks to banks about exit options . In: Börsen-Zeitung , May 3, 2013. Retrieved May 8, 2013.
  24. ↑ Luxury fittings for Japan - Grohe becomes the world market leader through sales. In: Der Tagesspiegel. September 26, 2013, accessed March 16, 2014 .
  25. ↑ Majority in Dawn's WaterTech portfolio. In: sbz-online.de. July 2014, accessed July 31, 2014 .
  26. ↑ DerWesten - derwesten.de: New man at the top of Grohe AG . ( derwesten.de [accessed on January 16, 2019]).
  27. ↑ Annual financial statements for the 2017/2018 financial year. March 20, 2019, accessed July 2, 2019 .
  28. ↑ Grohe subsidiary - bathroom fittings manufacturer Joyou files for bankruptcy. In: Handelsblatt . May 21, 2015, accessed May 22, 2015 .
  29. ↑ Manfred Dürbeck: Grohe is investing ten million euros. In: Badische Zeitung. September 20, 2017. Retrieved September 27, 2017 .
  30. ↑ James Morgan: Grohe acquires Mesma Holdings' stake in Grome JV | ConstructionWeekOnline.com. Retrieved October 16, 2019 .
  31. ^ New manufacturing facility in Rayong, a big step for Grohe . In: The Nation . ( nationmultimedia.com [accessed January 16, 2019]).
  32. ↑ Jens Helmecke: Japan trend: Grohe relies on programmable shower toilets . ( waz.de [accessed on January 16, 2019]).
  33. ↑ Georg Küffner: Internet-compatible closing valve: A warning is issued against flooding . In: FAZ.NET . ISSN  0174-4909 ( faz.net [accessed January 16, 2019]).
  34. ↑ LOGISTIK HEUTE editorial team: Logistics: Grohe founds its own company. Retrieved January 16, 2019 .
  35. ↑ Florian Rinke: Grohe presents faucets from the 3D printer. In: Rheinische Post. March 12, 2019, accessed March 28, 2019 .
  36. ^ Intelligent Living Summit. In: Sanitary journal. May 3, 2019, accessed May 21, 2019 .
  37. ↑ Fuhr is the new boss. Badische Zeitung, July 13, 2019, accessed on August 2, 2019 .
  38. ↑ Thomas Fuhr appointed as new CEO and Jonas Brennwald as deputy CEO. Grohe AG, July 12, 2019, accessed on August 2, 2019 .
  39. ↑ Ralf Engel: Punishment of the EU Commission. Price cartel: Grohe has to pay 54.8 million euros. In: IKZ-Online.de from June 23, 2010.
  40. ^ Grohe Awards Landing Page. Retrieved March 20, 2019 .
  41. ↑ Winner 1973 - today. In: German Marketing Association. Retrieved March 20, 2019 .
  42. ^ Martin Sauermann: Takeover of German stock corporations by financial investors . In: Hermann Locarek-Junge, Klaus Röder, Mark Wahrenburg (eds.): Financing, capital markets and banks . tape 74 . Josef Eul Verlag GmbH, Düsseldorf 2010, ISBN 978-3-89936-997-7 , p. 177 .
  43. ↑ Top design line "F1" from Grohe receives red dot award. In: Construction links. July 8, 2004, accessed March 20, 2019 .
  44. ↑ Grohe receives Materialica Award for innovative faucet surface. In: Construction links. August 25, 2004, accessed March 20, 2019 .
  45. ↑ ISH 2005: Grohe focuses on thermostats, showers and shower systems. In: Construction links. March 9, 2005, accessed March 20, 2019 .
  46. ↑ The new minimalist lines from Grohe. In: Construction links. February 13, 2007, accessed March 20, 2019 .
  47. ↑ Grohe had hand showers scientifically tested. In: Construction links. June 19, 2009. Retrieved March 20, 2019 .
  48. ^ Grohe Blue Professional. In: Grohe. Retrieved March 20, 2019 .
  49. ↑ Corporate Finance Award 2013 - candidates. In: Börsen-Zeitung. May 30, 2014, accessed March 20, 2019 .
  50. ↑ Federal government honors Grohe for sustainability. In: Iserlohner Kreisanzeiger and newspaper. January 25, 2017. Retrieved March 20, 2019 .
  51. ↑ Fortune: "Grohe is the only German company that is changing the world". In: Construction links. September 25, 2017. Retrieved September 29, 2017 .
  52. ^ The Fortune 2017 Change the World List. In: Fortune . September 7, 2017, accessed September 29, 2017 .
  53. ↑ Iconic Awards 2017: nine awards for GROHE. In: SHK-Journal. October 9, 2017. Retrieved November 15, 2017 .
  54. ↑ iF DESIGN. November 15, 2017. Retrieved November 15, 2017 .
  55. ↑ 7/2017 Sanitary trade awards design prize. In: Central Association for Plumbing, Heating, Air Conditioning. Retrieved March 20, 2019 .
  56. ↑ Grohe enjoys the trust of the specialist trade. In: Sanitary journal. May 4, 2018, accessed March 20, 2019 .
  57. ↑ 'Green Product Award 2018' u. a. for Grohe and Landgard. In: branded articles. July 9, 2018, accessed March 20, 2019 .
  58. ↑ a b c d e Consolidated financial statements for the business year from April 1, 2016 to March 31, 2017 of Grohe AG. March 8, 2018, accessed October 2, 2018 .
  59. ↑ Bloomberg: Company Overview of GROHE Canada, Inc. Retrieved December 14, 2018 .
  60. ^ Grohe AG: Board of Directors of Grohe AG. Retrieved November 22, 2018 .
  61. ↑ Grohe benefits from the German construction boom. In: WirtschaftsWoche. April 2, 2017. Retrieved October 17, 2017 .
  62. ↑ Guido M. Hartmann: Where a shower sometimes costs 20,000 euros. In: Welt.de. November 27, 2017. Retrieved November 22, 2018 .
  63. ↑ Grohe: Sales Germany Accessed December 14, 2018.
  64. ^ Grohe: Grohe in your country.Retrieved December 14, 2018.
  65. ↑ Johannes Schweikle: The shower duel. In: Zeit.de. August 2, 2017. Retrieved November 22, 2018 .
  66. ↑ The new generation of overhead showers from Grohe can be used perfectly with SmartControl concealed fittings. baulinks.de, accessed on May 22, 2017 (2018-11-22).
  67. ↑ Jens Helmecke: Japan trend: Grohe relies on programmable shower toilets. In: The West. March 5, 2017. Retrieved November 22, 2018 .
  68. ^ Grohe AG: Bathroom accessories. Retrieved November 22, 2018 .
  69. ↑ Daniel Bakir: How to turn tap water into a luxury product. In: stern.de. August 2, 2017. Retrieved November 22, 2018 .
  70. ↑ Grohe AG: Accessories for the kitchen. Retrieved November 22, 2018 .
  71. ↑ Georg Küffner: A warning is given against flooding. In: faz.net. March 9, 2018, accessed November 22, 2018 .

Coordinates: 51 ° 24 ′ 38.9 ″  N , 7 ° 47 ′ 12.5 ″  E