Information on the target
Mission Co., a private equity firm founded by former partners of Gávea Investimentos, has acquired a 10% stake in WAP Negócio, a Curitiba-based company renowned for its high-pressure washers and other electronic products. This transaction is entirely secondary, facilitating a partial exit for investors Gilberto Zancopé of Order VC and Pipo Capital, each of whom sold 5% of their holdings. Following this transaction, Zancopé and WAP executives retain control of the company with an 80% ownership stake, while Pipo Capital maintains its 10% interest, the same percentage now held by Mission Co.
The deal, which was initially reported by NeoFeed in July 2025, did not disclose the transaction value. However, the sellers were seeking a valuation of R$ 2.5 billion for WAP. Founded in 2021, Mission Co. manages R$ 900 million in committed capital and focuses on acquiring minority stakes in promising companies. The firm has previously invested in notable enterprises such as Salta Educação and Scala Data Centers.
Industry overview in the target’s specific country
The Brazilian market for consumer electronics, particularly in the home appliance sector, has shown significant growth over the past decade. Companies like WAP have capitalized on this trend, with WAP itself experiencing a remarkable annual growth rate of 40% over the last ten years. This growth trajectory is indicative of a broader shift in consumer behavior, where digital sales channels have become increasingly vital. WAP has adapted to these changes by diversifying its product offerings and enhancing its online presence, with over 80% of sales now occurring through e-commerce platforms and marketplaces.
In recent years, the Brazilian economy has faced challenges, including economic downturns and crises such as the water crisis in 2014, which severely impacted WAP's revenue. However, the company's strategic pivot towards a diversified portfolio has allowed it to recover and thrive. The introduction of new product lines, including robotic vacuums, air fryers, and audio equipment, has helped WAP reduce its reliance on high-pressure washers, which were once its flagship products.
Looking ahead, WAP projects a revenue of R$ 2 billion in 2025, with an EBITDA of R$ 350 million, and anticipates reaching R$ 2.5 billion in revenue by 2026. This optimistic outlook reflects the company's resilience and adaptability in a competitive market, positioning it well for future growth.
The rationale behind the deal The acquisition of a 10% stake in WAP by Mission Co. aligns with the firm's strategy of investing in high-growth companies with strong market positions. WAP's impressive growth rate and its successful transition to a more diversified pr…