Advent International has agreed to sell Bolix, a leading Polish provider of Exterior Insulation Finish Systems (EIFS) for the business to business market to Berger Paints India Ltd., one of India’s largest paint manufacturers.
Bolix (www.bolix.pl)
Bolix is a leading Polish producer of building chemistry, specialized in EIFS. Bolix offers professional elevation materials and materials for ceramics:
- Acrylic, silicone, silicone-acrylic, silicate and mineral plasters
- Insulation systems based on foamed polystyrene and on mineral wool
- Systems for microbiological protection of buildings
- Elevation and maintenance systems
- Elevation paints and priming preparations
- Adhesives and preparations for wall and floor tiles
- In 2007, Bolix had a turnover of PLN 100 million (approximately € 26.5 million) and 250 employees.
Berger Paints India Ltd. (www.bergerpaints.com)
Berger Paints India Limited was founded by Lewis Berger in 1923. It is one of the largest industrial and decorative paint manufacturers in India with a presence in all segments – decorative, general industrial and automotive, protective coatings and powder coatings.
Berger is the second largest producer of decorative paints in India and Berger and its related companies have operations in Russia, Nepal and Bangladesh. The company is quoted on the Bombay Stock Exchange.
Advent International (www.adventinternational.com)
Founded in 1984, Advent International is one of the world’s leading global buyout firms, with buyout offices in 15 countries on four continents.
Advent International has been investing across Central & Eastern Europe since 1994 and has local offices in Warsaw, Prague, Bucharest and Kiev. Earlier this month, the firm announced the closing of its fourth fund for the region, ACEE IV, at € 1 billion.
01/05/2008
Central & Eastern Europe, Chemicals, Exit, Poland, Private Equity News