5SQUARE ACQUIRES INTERSTEEL
Intersteel, a manufacturer of design door and window handles, fittings and accessories, has been acquired by a group of investors led by private equity firm 5square. The company was acquired from ING Corporate Investments, investment company Rikon Holding and Peter van Leeuwen who still retains a stake in the company.
The company, founded in 1902 under the name Van Leeuwen, was renamed Intersteel in 1995. Intersteel has established itself as an authority in the field of stylish and high-quality door and window fittings and accessories. Design, safety and technology are important core values within the organization. The family business, with over 50 employees, designs and produces door handles, window fittings and accessories.
Intersteel has a business-to-business focus on products for residential and non-residential buildings. The company’s subsidiary Post & Eger is a supplier of door and window hardware and access solutions for professional end-users and architects. German subsidiary Progriff mainly supplies the company’s products to hardware shops in Germany. In June Intersteel also became distributor for the Benelux of the well-known Italian brand Olivari.
In the coming years the company will realize further growth through expansion of its various distribution channels with a focus on online. The company is also steadily increasing its market share through expansion of its products portfolio.
The acquisition by 5square offers new opportunities for strengthening the market position, further professionalization and international expansion.