A group of investors from Singapore has taken over a substantial share of the German sextoy manufacturer WOW Tech Group. The Berlin-based company’s brands include the sex-toy labels Womanizer and We-Vibe. Is the company now positioned for global growth?
CDH Investments, a Singapore-based company, has acquired an unspecified, »significant« stake in Berlin-based sex-toy manufacturer WOW Tech Group. This was announced by CDH Investments and WOW Tech in a joint statement. The aim is to leverage the growth potential in the global sextoy market with additional investments in product development and marketing.
Company founder Johannes von Plettenberg commented on the acquisition by CDH Investments: »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.«
Von Plettenberg remains at the top and shareholder
The management around von Plettenberg as well as a group of German investors will remain involved in the group of companies that was created by the merger of the German manufacturer Womanizer and the US start-up behind the label We-Vibe. Besides the two aforementioned, well-known toy labels, Attivia and the service company Novuluto also belong to the group, which increasingly sees itself as a sexual wellness company. Part of this is that WOW Tech has taken over the distribution of the lubricant manufacturer pjur in North America.
A company spokesperson said of the move: »WOW Tech identified an opportunity to leverage the company’s strong reputation with consumers for its superior product quality and technological innovation, to accelerate expansion globally. Consequently, management and shareholders decided to bring in a financial partner to support WOW Tech’s continued quest for product and service excellence, while further growing its valuable relationships with key retail partners in existing and new geographies.«
Growth also through acquisitions?
The new investors from Singapore signal full willingness to invest in the company. CDH, they say, is determined »to invest significant resources into WOW Tech’s innovation and marketing activities to further grow the business.«
Thomas Lanyi, head of CDH, said of the investment in the Berlin-based company: »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 organization. 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.«
For more information about WOW Tech Group, you can visit the company’s website.