Advent expands d?fa Deutek's portfolio with 19m-euro acquisition

Varnish and paint manufacturer d?fa Deutek, held by American investment fund Advent International, has acquired Bengoss Comimpex, which retails dry mortars under the Bauleiter brand, following a transaction worth 18.9 million euros. Bengoss Comimpex, held by businessman Corneliu Stan, posted turnover worth around 9 million euros last year, and holds a 5% market share on the mortar market. Investment fund Advent is now at its third transaction on the construction materials market, after it took over D?fa Romania, currently d?fa Deutek, in 2005, and Ceramica Iasi, in 2007. Therefore, d?fa Deutek has expanded its portfolio to include finishing construction materials (mortars, adhesives, insulation materials etc), which is one of the most dynamic sectors on the construction market. “I started negotiations with investment fund Advent three or four months ago, and we signed the deal on March 24th. I will use part of the money collected from the sale to start a new business in the constructions field, in around a month’s time,” Corneliu Stan, founder of the Bengoss Comimpex business, told ZF. Stan, who declined to reveal what construction materials would be manufactured in the new plant, will invest 4 million euros in a production facility near Cluj, which will be developed in three stages. Following the transaction, the seller will receive the money in two stages – 9 million euros now and the rest in two years’ time.