Click here for printer friendly page
Carlyle, Advent sell HT Troplast to Arcapita17/08/2007. Source: AltAssets. 
 Bahrain-headquartered investment firm Arcapita Bank has agreed to acquire HT Troplast, a Germany-based developer, manufacturer and marketer of PVC window and door profiles from Advent International and The Carlyle Group. Financial details of the transaction were not disclosed.
Carlyle and Advent acquired Troisdorf-headquartered HT Troplast from RUETGERS in January 2005.
In 2005 HT Troplast sold its non-core divisions Trocellen, a provider of cross-linked polyolefin foam products, to Furukawa Electric, and Otsuka Chemical, and Dynos, a producer of vulcanised fibre, to M2 Capital Partners.
Gregor Böhm, managing director, Carlyle, commented, 'During our ownership, HT Troplast has exceeded overall market growth and profitability expectations in all of its key markets. By empowering a very experienced management team and strengthening the company's financial standing the company has been able to realise its full potential and expand its pan-European market leadership.'
Ron Sheldon, director of Advent, and Ralf Huep, managing director of Advent in Frankfurt, added, 'HT Troplast's position as a clear market leader was reflected in the high level of interest that its sale attracted. What is so exciting is that it still has major growth potential in strategically significant markets such as Ukraine, Romania, Turkey or Asia.'
Headquartered in Bahrain with offices in Atlanta, London and Singapore, Arcapita's four principal lines of business are corporate investment, real estate investment, asset-based investment and venture capital.
HT Tropast represents Arcapita's third major investment in the building materials industry. It follows the €620m acquisition of Paroc in Finland and the $514m acquisitions of Tensar in the US and Tensar International in the UK.
Copyright © 2007 AltAssets
|
