Independent European investment company Argo Wityu is investing in Wibit Sports, the manufacturer of inflatable floating waterparks based in Bocholt, Germany.
With the partnership in place, Wibit aims to accelerate its international growth and further expand and diversify its business model. The two company founders, Romann Rademacher and Robert Cirjak, will continue in their co-CEO positions and will remain involved with the company for the long-term. The transaction is expected to close in early November.
Founded in 1996, Wibit has 36 employees and has to date installed around 600 parks in over 90 countries, including Dubai, Croatia and Cancún, Mexico. Domestic installs include Timmendorfer Strand, the public beach at Xantener Südsee, the Camp David Sport Resort in Leipzig and numerous outdoor pools.
Rademacher and Cirjak commented: “The strategic partnership with Argos Wityu is a major step forward in the further development of our company. Wibit wants to become bolder, better and bigger than it is today. We combine sportsmanship with an entrepreneurial passion and are ready now to move up from the Bundesliga to the Champions League.
“Together with Argos Wityu, we want to seize the growth opportunities before us. Now we can realise many projects for which we need additional financial, personnel and organisational capacities. We are convinced that with Argos Wityu we have a strong strategic partner at our side – the team’s expertise and extensive international experience have impressed us deeply.”
Frank Hermann, partner and director of the DACH region at Argos Wityu, said: “Wibit’s extremely successful business model and the entrepreneurial personalities of Romann Rademacher and Robert Cirjak stood out right from the outset. Today the company already has a strong international presence, but the potential for further growth is still far from being fully exploited in light of the huge number of holiday and leisure destinations.
“Moreover, the founders identified additional interesting growth areas for the diversification of the business model to supplement their core product, thus enhancing the attractiveness for customers and users. This mix of internationalisation and tapping new business areas characterises many of our investments. We are excited about jointly implementing this with the Wibit team.”
