Advent International acquires Ceramica

Advent International has completed the acquisition of a 70% stake in Bucharest-listed Ceramica Iasi, one of Romania’s leading ceramic bricks and clay roof tiles producers. Including new investments, the transaction total was € 35 million.

Ceramica IASI (www.ceramica-iasi.ro)
Founded in 1967 and located in eastern Romania, Ceramica Iasi is one of Romania’s leading ceramic bricks and clay roof tiles producers. It currently produces some 450 tons of bricks and 50 tons of roof tiles per day, but capacity is being extended with new production lines. Ceramica is at present Romania’s second largest independent manufacturer and the third largest overall.

Advent International (www.adventinternational.com)
Advent International is one of the longest established international private equity firms in Central Europe and has since 1994, backed 32 companies in seven countries. These include BTC, the Bulgaria Telecommunications Company acquired by AIG and Terapia, the Romanian generic pharmaceuticals manufacturer acquired by Ranbaxy for USD 324 million (€ 258.2 million) in 2006.

Advent’s Central Europe team has 13 investment professionals in London, Warsaw, Prague (covering Czech Republic, Slovakia and Hungary), Bucharest (covering Romania, Bulgaria and Turkey) and Kiev, and 11 investment professionals in its Turkish investment partner, TurkVen.

Advent International has substantial experience in the construction materials sector across Europe, with investment including Materis in France, Bolix in Poland, Dufa Deutek in Romania and KAI Group in Bulgaria.