Supplier acquires customer: Trend Group acquires GALA Group from Equistone
Equistone Partners Europe sold GALA Group to its long-standing supplier TREND GLASS Sp. z o.o. (Trend Group). The transaction was financed by funds managed by CVI, a leading private-debt provider in Central Europe, and the Polish Development Fund (PFR). Trend Group was advised on legal and tax matters by a multi-office HEUKING team led by Dr. Hermann Ali Hinderer and Benedikt Raisch, working alongside peers from Wolf Theiss (see below); in the transaction, HEUKING was responsible for advice on German law.
Headquartered in Radom, Trend Group is a Polish manufacturer of household, decorative, and hospitality glassware. Established in 1989, the company has grown from a family business into an international supplier with substantial manufacturing capacity. Trend Glass combines traditional glassmaking with modern technology and offers a broad range of products, including vases, candleholders, and bespoke glass projects. Its customers include global retailers such as IKEA.
GALA Group, headquartered in Ansbach, is one of Europe’s leading manufacturers of candles, home fragrances, and home accessories, employing some 4,000 people worldwide. Founded in 1972 and majority-owned by Equistone since 2016, GALA operates multiple international production sites and supplies retailers, drugstores, and online platforms with both private-label and branded products.
Equistone Partners Europe is a European private equity firm based in London with additional offices in Germany, France, the Netherlands, and Switzerland. Formed in 2011 through a management buyout from Barclays Private Equity, Equistone focuses on majority stakes in mid-market companies with enterprise values between EUR 50 million and EUR 500 million, supporting portfolio companies in their growth and strategic development. Since 2002, it has invested more than EUR 10 billion in over 180 transactions.
Counsel to Trend Group
HEUKING:
Dr. Hermann Ali Hinderer, LL.M. (University of San Diego),
Benedikt Raisch (both Lead, both Corporate / M&A),
Dr. Frank Baßler (Real Estate & Construction), all Stuttgart,
Fabian G. Gaffron (Tax), Hamburg,
Dr. Stefan Jöster, LL.M. (Insurance / Reinsurance), Cologne,
David Loszynski, (Restructuring & Insolvency),
Sandra Pfister, LL.M. (University of Sydney), (Banking & Finance), both Hamburg,
Dr. Sascha Schewiola (Employment), Cologne,
Dr. Frederik Wiemer (Antitrust),Simon Pommer, LL.M. (Tax), both Hamburg,
Charlotte Schmitt, LL.M. (Corporate / M&A),
Ramona Bauer-Schöllkopf, LL.M. (Queen Mary University of London), (Corporate / M&A), both Stuttgart,
Beliardis Ehlert-Gasde (Banking & Finance),
Oliver Kammerer (Tax), both Hamburg,
Dr. Ramona Segler, LL.M. (Employment), Cologne
Polish counsel to Trend Group (Lead)
Wolf Theiss:
Bartosz Kuras,
Dominika Getka
