Advent International acquires KAI Group

Advent International has agreed to acquire a 70% stake in KAI Group, Bulgaria’s largest manufacturer of interior and exterior floor, wall and decorative ceramic tiles.

KAI Group (www.kai.bg)
KAI Group is Bulgaria’s leading manufacturer of interior and exterior floor, wall and decorative ceramic tiles. Employing over 1,000 people, the Company operates from two international standard plants producing over 14 million square meters of tiles a year. The acquisition also comprises a transportation business and a clay mining company.

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 is already present in the building materials sector in Poland and Romania through its investments in Bolix, an exterior insulation business, and Dufa-Deutek, Romania’s largest decorative paints producer.