30 April 2018: Hg today announces the sale of Teufel, a leading European direct-to-consumer online brand for audio solutions, based in Germany, to Naxicap Partners, one of France’s leading private equity companies.
Teufel’s ability to control its entire value chain puts it in a unique position and enables it to offer better value for money to its customers. Based in Berlin with around 200 employees, Teufel is focused on the mid-to-high-end segment of the audio solutions market and has built a very strong customer base over the last 40 years.
Since Hg partnered with Teufel in 2010, it has supported the successful transition from a traditional loudspeaker company to a high-quality brand for state-of-the-art audio solutions, through the introduction of new categories and technologies, including wireless streaming, headphones and portables.
Martin Block and Stefan Margolis, Hg, said:
“We wish Sascha and Joachim well for the next phase of growth and we congratulate them and the team at Teufel for the great results over the last few years. Teufel has achieved a number of milestones during this time, including the acquisition of Raumfeld in 2010 and substantial revenue growth, increasing from around €40m to over €100m today.”
Sascha Mallah and Joachim Wimmers, Managing Directors at Teufel said:
“We are very happy to be joining forces with Naxicap Partners, a very successful and experienced investor in the field of consumer audio. Together we are going to tap Teufel’s full potential across new markets. We will continue to offer our core products, such as AI speakers, headphones, portable audio and compact home cinema, to a wider direct customer base. We want to thank Hg for their strong commitment over the years and highly valuable support. The future will be loud!”