King & Wood Mallesons (KWM) has advised Argos Wityu on the acquisition of a majority stake in Wibit Sports GmbH (Wibit Sports), the pioneer in the field of floating waterparks worldwide.
The acquisition of a stake in Wibit Sports is the second investment by Argos Wityu in Germany within two months. KWM also advised Argos Wityu on the acquisition of a majority stake in aktivoptik Group at the end of August 2018.
Wibit Sports, the Bocholt-based company, produces floating waterparks made from inflatable PVC modules, which are used in open waters off the coast and lakes as well as outdoor and indoor pools as a leisure attraction in over 90 countries. It is the unchallenged market leader in this self-established industry. To date, around 600 parks have been installed. With 36 employees, the company generates annual sales in the lower two-digit million range.
With Argos Wityu as a strategic partner, Wibit Sports aims to drive further internationalization and expand its successful business model. The two company founders, Robert Cirjak and Romann Rademacher, will continue in their co-CEOs positions and will remain in close ties with the company long-term. The closing of the transaction is expected in early November.
Advisors to Argos Wityu:
King & Wood Mallesons
Markus Herz (lead partner), Dr. Tilmann Becker (counsel), Dr. Laura Schumann, Floris Schilling, Dr. Katrin Thoma, Xia Li (all associates) (all Corporate/M&A), Dr. Johannes Reitzel (counsel, Employment Law), Markus Hill (partner, Tax and Structuring)