Key milestones
Sanitec Corporation was established in 1990 as a subsidiary of Wärtsilä Corporation. Wärtsilä's bathroom operations were merged to form Sanitec, which at that time comprised Wärtsilä Tammisaari Porcelain (currently Ido Bathroom), Ifö Sanitär AB, Porsgrund A/S and Evac AB. Prior to 1991 Sanitec was mainly active in Finland, Sweden and Norway.
Significant events
| 1999 |
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In July Sanitec was listed on the Helsinki Exchanges.
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2001 |
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Pool Acquisition Helsinki Oy, a company owned by European equity investor BC Partners, acquired the entire share capital of Sanitec. The last day of Sanitec's stock listing in Helsinki was 1 November. |
2002 |
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On 31 March Sanitec Corporation merged with its parent company Pool Acquisition Helsinki Oy. At the same time, Pool Acquisition Helsinki Oy changed its name to Sanitec Oy, Sanitec Corporation in English. |
2005 |
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On 4 February EQT Private Equity Funds acquired all shares in Sanitec Corporation. The transaction was closed on 11 April.
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2009 |
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On 9 July Sanitec completed its financial restructuring. EQT remains as main shareholder with 77,5% ownership of the equity and lenders assumed 22,5% of Sanitec equity.
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Acquisition track
Our development into Europe's leading manufacturer of bathroom products has been the combined result of organic growth and strategic acquisitions. The timeline shows acquisitions by Sanitec since the 1980's.
*) the participating interest was divested in 2008
**) divested in 2001
***) divested in 2004