EQS-News

Innovative startup joins HORNBACH Group: HORNBACH Baumarkt AG acquires Seniovo, the market leader for barrier-free bathroom conversions - Seite 2

Since 2017, Seniovo has implemented more than 3,000 barrier-free or low-barrier bathroom conversions. The consortium of investors financing the Berlin-based startup in its development include IBB Ventures, a Berlin venture capital investor, and PT1 – PropTech1 Ventures, the European VC investor for transformative property technologies. Anja Rath, Managing Partner of PT1, and Christian Seegers, Investment Director at IBB Ventures, both formerly members of Seniovo’s Advisory Board, comment: “It is impressive to see how Seniovo has developed since we made our initial investment several years ago. We would like to thank Seniovo’s management team, namely Jonathan Kohl, Florian Stiebler and Robert Schneider, as well as our co-investors, for the superb work together. Seniovo has found a fantastic partner in HORNBACH and we are certain that this will take Seniovo’s mission of enhancing its customers’ quality of life in their own four walls to the next level.”

HORNBACH customers have long had the option of drawing on the company’s trade service for their projects, such as bathroom renovation, kitchen installation, decoration, floor laying etc. Like at Seniovo, the advantages are obvious: one contract partner, fair price calculations in advance based on HORNBACH’s permanently low prices, reliable timings, and a large selection thanks to an extensive product range. The Seniovo takeover will boost the bathroom expertise within HORNBACH’s trade service and thus make it even more attractive for far more people.

Takeover underlines innovative strength

“Creating added value for our customers was the prime factor motivating our decision to make this takeover”, explains Karin Dohm, CFO of the HORNBACH Group. “Via our trend research, we analyze topics that are important to people and make targeted efforts to further develop our strategies along these lines, whether by developing new services within the company, forging strategic partnerships, or making takeovers”, she adds. HORNBACH will retain its overall approach of basing its development as a group of companies on organic growth.