Münich-based private equity firm Orlando Capital has acquired majority control of Welle Holding, the financial holding company that manages shareholdings in, among others, LEICHT Küchen, Bürstadt Furniture and Paidi Möbel. The acquisition by Orlando Capital, a specialist in working with medium-sized enterprises in the German-speaking and Nordic regions, is set to support the strategic development of these companies, boost international expansion and unlock further potential.
LEICHT was founded in 1928 by the brothers Alois and Josef Leicht in Schwäbisch Gmünd. In the 1940s, the company developed the first built-in kitchen with a system of dimensions and grids that is still used today. In 1975, the company was acquired by Welle Holding and became an independent company, and in 1993, it was transformed into Leicht Küchen AG.
In 2020 LEICHT invested €90million in a state-of-the-art fully automated assembly plant at its factory in Waldstetten to expand production capacity, improve efficiency and boost its ability to manufacture customisable products.
Today it is one of the top 10 companies of the German kitchen industry, with a workforce of 620 employees in its main sites of Waldstetten and Kirchheim. It concluded the 2023 financial year with stable turnover of €180m, and its kitchen furniture and accessories are distributed across more than 55 countries and approximately 1,000 sales partners.
Welle Holding will continue to manage its remaining medium-sized furniture manufacturing brands, including Himolla Polstermöbel and K+W Polstermöbel.
