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SigmaKalon Acquired Primalex, Market leader in Czech Republic and Slovakia

Published on 2004-06-16. Author : SpecialChem

 

SigmaKalon announced that it has acquired Primalex from The Riverside Company, a private equity fund based in
Europe and North America. This transaction has been completed.

With sales of 20 million euros, Primalex is the market leader for wall paints in the Czech Republic and Slovakia. The Primalex brand name is the leading brand on the Czech and Slovak decorative paint markets. The company has production
facilities in B ø asy (Czech Republic) and Dolný Kubín (Slovakia) and employs 135 people in production, R&D, sales and marketing.

Primalex Managing Director Peter Pataky will remain with the business.

The acquisition of Primalex demonstrates SigmaKalon's clear commitment to Central and Eastern Europe, where it already holds a leading position in the Polish and Hungarian markets and strong and developing positions in Romania and the Ukraine.

The sale of Primalex will mark Riverside's third realization in Europe, where the firm has acquired nine platform companies. In addition to the Prague office, Riverside has offices in Budapest, Warsaw and Munich, and has four offices in
North America -- New York, Cleveland, Dallas and San Francisco.

"We are very pleased to announce this new expansion of our business into the Czech Republic and Slovakia at a time when these countries look set to enjoy the benefits of their newly acquired EU membership ', said SigmaKalon CEO, Pierre-Marie De Leener. 'Primalex is a good fit with our operations in neighbouring countries Poland and Hungary and we see a number of interesting synergies within our Central European activities'.

"Riverside is extremely pleased with the work accomplished by the management team of Primalex during our period of ownership," said Radim Stach, Riverside's partner in charge of the transaction. "This has been a very good investment for our new Fund REF II."

Source: SigmaKalon


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