For up to 2 billion euros
Buyers wanted for Toi Toi & Dixi
2/10/2022, 9:01 p.m
The business with mobile toilet houses is booming. Festivals have ceased to be a place of action during the pandemic. That’s what’s going on in the construction industry. With valuations soaring, private equity firm Apax is hoping to double its stake from three years ago.
The construction industry in Germany is booming. It’s not just handicraft businesses and suppliers who benefit from this: sales of the mobile toilets are apparently also going well. According to the “Handelsblatt”, the company Toi Toi & Dixi, which was taken over by the British investor Apax almost three years ago, is to be sold. The rating could be twice as high as it was three years ago, they say. Up to two billion euros are in it, writes the paper.
The official sales process for Toi Toi & Dixi is scheduled to start in the coming months. As the newspaper writes, citing several people familiar with the matter, the private equity firm Apax could value the company at 1.5 to 2 billion euros. When it was taken over by the British investor almost three years ago, the company was valued at around 800 million euros.
When asked by RTL, Toi Toi & Dixi explained that “rumors that were spread in the ‘Handelsblatt’ on Wednesday were not commented on”.
Profiteer of the booming construction industry
The plumbing company is best known for equipping construction sites, festivals and other major events. It also rents toilet cabins and containers to cities, the military and various aid organizations. Since most major events and folk festivals were canceled during the pandemic or could not take place with the full number of visitors, Toi Toi & Dixi seems to have benefited above all from the strong construction industry. The main association of the German construction industry is also forecasting a further increase in sales in the construction industry by 1.5 percent this year compared to 2021.
According to the plumbing company, it was able to achieve sales of 428 million euros in 2020. The continuous sales growth is essentially based on the expansion of existing business models, the expansion of the diverse service portfolio and the development of new business areas.
World market leader for portable toilets
According to Toi Toi & Dixi, it is the world market leader in the field of mobile, connection-free sanitary units. The company currently rents and sells 299,327 toilet cabins and 26,799 containers in 27 countries.
The two companies were founded separately. Fred Edwards founded the Port San Ser company in Essen in 1973, which was later renamed Dixi. Ten years later, Helga and Harald Müller found Toi Toi sanitary systems in Wiesbaden. It was not until 1997 that Toi Toi and Dixi merged to form the ADCO group of companies. Apax Partners has been the new majority shareholder of the group of companies since 2019, having taken over the majority from the heirs of ToiToi founder Harald Georg Müller. The former ADCO boss Johannes Borgmann even played the leading role in the RTL show “Undercover Boss” in 2011.