Canaccord Genuity advises 3i on its acquisition of Jung Pumpen from Masco Corporation
Jung Pumpen, headquartered in Steinhagen/Germany, is the German market leading manufacturer of high quality submersible wastewater and sewage pumps for application in the residential and commercial markets. Jung Pumpen sells over 100,000 pumps a year - principally to the German residential market
The company was a 100% subsidiary of Masco Corporation ("Masco") , a publicly quoted US company. Masco had been focusing on its core activity, light building products for the home improvement market. The company therefore decided to sell Jung Pumpen.
3i is backing the existing management to lead a management buy-out of Jung Pumpen.
Canaccord Genuity acted as sole financial adviser to 3i.
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