WOW Tech Group has announced that the Singapore-based unit of CDH Investments has acquired a “significant stake” in the company. WOW Tech said it identified an opportunity to leverage its reputation with consumers for its superior product quality and technological innovation, to accelerate expansion globally, and so management and shareholders decided to bring in a financial partner.
Following “several months of careful consideration and a rigorous selection process”, WOW Tech chose to partner with global private equity group CDH Investments. CDH said it believes strongly in the long-term prospects of the global sexual wellness industry and intends to invest significant resources into WOW Tech’s innovation and marketing activities to further grow the business.
Singapore-based Thomas Lanyi, managing director of CDH Investments, said: “We are extremely excited about this partnership. We identified the tremendous potential of the industry and had been actively searching for a high-quality, professionally managed company to commit our capital and expertise. During the course of last year’s discussions, we developed strong confidence in the management, products, and business model of the WOW Tech organisation. The company is the industry’s leading innovator with strong technological know-how, a genuine care for consumers’ needs, and a relentless commitment to delivering premium quality products that consumers love. CDH will strongly support the continuation of the current business platform and add significant resources to empower the management team around CEO Johannes von Plettenberg to accelerate the global expansion of the company, organically and through acquisitions.”
Johannes von Plettenberg, CEO of WOW Tech Group, added: “In recent years, WOW Tech has worked intensively to build strong relationships and become a reliable and trustworthy partner for retailers worldwide. With CDH, we found an investor that is committed to continuing that path of striving for excellence in our products and services with us. We are very excited and are looking forward to WOW Tech’s ongoing development.”
The management of WOW Tech and the currently invested German group of investors, advised by RIGETO Unternehmerkapital, remain shareholders in WOW Tech and continue to hold strategic and operative functions.
