Swiss group Sika, one of the major players in the global market of chemical building materials, will take over AdePlast, one of the biggest Romanian construction materials producers.
The sale of the company comes after the death of AdePlast founder and owner Marcel Bărbuț, in February this year. The business was inherited by his three sons: Alexander (28), Thomas (26) and Marcel (22), who said that they plan to pursue own projects.
With 470 employees, AdePlast reported a turnover of RON 474 million (EUR 100 mln) last year, up 13% from the previous year.
AdePlast operates three industrial platforms located in Oradea, Ploiești and Roman, covering the whole country. Last year, the company also inaugurated a new industrial platform in southern Romania (at Isalnita) after investing some EUR 22 mln. AdePlast exports part of its products to the Republic of Moldova, Bulgaria, Hungary, Austria, Italy, Germany and Spain, the new platform taking orders from the countries of the former Yugoslavia.
The company produces dry adhesives and mortars, decorative paints and plasters, and polystyrene.
Sika has been present in Romania since 2002, having two production units, in Brașov, where it produces additives for concrete, and Căpușu Mare (Cluj), where it produces mortars and special adhesives for construction.
“AdePlast is a proven industry leader and will considerably strengthen the presence of our Target Market Building Finishing in the growing Romanian market. The improved access to the distribution channel will offer exciting cross-selling opportunities, increase our market penetration, and drive the continued growth of both companies,” said Ivo Schädler, Regional Manager Sika EMEA.
The value of the transaction hasn’t been disclosed.
The deal is still subject to approval from the Competition Council. Wolf Theiss and Filip&Company law firms assisted Adeplast’s shareholders in this transaction.
Romanian entrepreneur Marcel Bărbuț, who built one of the biggest businesses in the local construction industry -...