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Wednesday, 18 September 2019
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Markets & companies, Coatings market

Decorative coatings: Advent International sells Deutek to Axxess Capital

Wednesday, 11 September 2013

Private equity firm, Advent International has sold Deutek, a Romanian manufacturer of decorative paints and coatings to Emerging Europe Accession Fund (EEAF), the third private equity fund managed by Axxess Capital.

The acquisition of Deutek is the first Romanian investment of EEAF, the third private equity fund managed by Axxess Capital. Source: MS ClipArt

The acquisition of Deutek is the first Romanian investment of EEAF, the third private equity fund managed by Axxess Capital. Source: MS ClipArt

Horia Manda, Managing Partner of Axxess Capital, said: "Deutek is the first Romanian investment of EEAF, the third private equity fund managed by Axxess Capital. We are optimistic that our 15 years of experience in developing financial, industrial and service businesses in Romania and South-Eastern Europe will strongly support the company's efforts to accelerate growth and further enhance its market leadership."

Advent acquired Deutek in July 2005 and under its ownership has 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 presence in all of the major national construction materials and decoration stores and a significant regional presence in neighbouring countries such as Ukraine, Bulgaria and Moldova. Founded in 1993, Deutek originally imported its paints from Germany, switching to local production in 1998.

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