Advent International and Turkven PE Exit Roma Plastik

Austrian-based EGGER Holzwerkstoffe GmbH has agreed to acquire a 71% stake in Turkey’s Roma Plastik for an undisclosed amount. The shares were sold by Advent International and Turkven Private Equity, who had controlled the company since 2006.

Under their leadership Roma Plastik has successfully solidified a share of the Turkish market while also increasing the number of distributors in Germany, Spain, and the U.K. Their success is typical of Turkish companies who have enjoyed a partnership with Advent International since the global PE firm began in Turkey in 2001.

Roma Plastik (www.romaplastik.com)
Roma Plastik is a manufacturer of edgeband for use on counter tops, tabletops, shelves and desks. It is Southern and Eastern Europe’s largest producer of melamine and ABS, melamine, and PVC edgeband products, with an annual average turnover of €50 million. In addition, Roma Plastik products reach more than 50 countries worldwide. The company employs 400 and was established in 1996.

Turkven Private Equity (www.turkven.com)
Turkven Private Equity is an alternative investment manager based in Istanbul and founded in 2001. The firm works closely with global investor Advent International on all of Advent’s Turkish investments.

Turkven invests mainly in Turkey through buy-outs and buy-ins, recapitalizations, privatizations, and expansion financing. It was the first private equity manager in Turkey, closing its inaugural fund in 2002, and receives the majority of its funding from various institutional investors in Europe.

Today Turkven manages €500 million in total assets.