Equistone and Thorsten Klapproth, a former CEO of Hansgrohe and WMF, agreed to acquire Franke Water Systems, a kitchen and bathroom fittings provider, from Franke Group, an industrial manufacturer. Financial terms were not disclosed. “The European market for kitchen and bathroom solutions has been developing very positively for years and Franke Water Systems is ideally positioned to play an important role in this market environment. With Thorsten Klapproth, we were able to bring a proven industry expert with many years of experience on board, who has repeatedly shown that it is possible to successfully grow strong brands through enthusiastic employees and innovative products – both organically and acquisitively," Stefan Maser, Equistone Partner.