Bucharest/Vienna – Advent International, one of the world’s leading firms dedicated solely to private equity, today announced last week the sale of Deutek, Romania’s largest manufacturer of decorative paints and coatings to Emerging Europe Accession Fund (EEAF), the third private equity fund managed by Axxess Capital. The value of the transaction was undisclosed.
Since acquiring Deutek in July 2005, Advent International has supported the company to become a market-leading player in Romania by expanding its product offering, brand portfolio and distribution channels. The company is headquartered in Bucharest and has a strong national presence in all of the major construction material and DIY stores and a significant regional presence in neighbouring countries such as Ukraine, Bulgaria and Moldova.
Raiffeisen Investment Romania acted as sell-side advisor of Advent International in this transaction.
About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global investors dedicated solely to private equity. Since inception, the firm has raised ¬28 billion and invested in more than 280 buyout transactions in 36 countries, achieving over 210 full or partial exits. With offices on four continents, Advent has established a globally integrated team of over 170 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on growth and traditional buyout and strategic repositioning transactions across five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology, media and telecoms. After 29 years dedicated to international private equity, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for portfolio companies.
About Axxess Capital
Axxess Capital is an independent investment manager with more than 15 years of investment history in the lower mid-market in South-Eastern Europe and over EUR 250 million under management in three private equity funds. The Axxess Capital team has closed to date over 35 transactions and has exited 25 equity investments, supporting growth and development of private companies across a number of sectors including financial services, manufacturing, IT&C, specialized retail, FMCG and others.
Emerging Europe Accession Fund, the third fund managed by Axxess Capital, was closed in November 2010. The fund is looking to leverage the experience of the Axxess Capital team and local managerial talent to unlock value generation opportunities with strong medium-to-long-term growth potential.
About Raiffeisen Investment
Raiffeisen Investment is one of the leading Corporate Finance Advisory firms in Emerging Europe with a strong network in 17 countries and more than 100 professionals. Raiffeisen Investment Romania ranks among the leading investment advisory firms in Romania with 8 transactions completed since 2008.Raiffeisen Investment is a 100% subsidiary of Raiffeisen Centrobank AG.
For further information on the transaction please contact:
Ms. Ioana Filipescu, Managing Director
Phone: +40 21 312 03 10
E-mail:i.filipescu(at)raiffeisen-investment.com
