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New Owner for European Extruder
Profine GmbH, a leading supplier of PVC window profiles in Europe, has been acquired by Arcapita Bank B.S.C.(c), an international investment firm headquartered in Bahrain. The extruder, which markets products under the Kömmerling, Trocal and KBE brand names, was previously owned by Advent International and Carlyle Group.
Headquartered in Troisdorf, Germany, Profine is reported to have a 22 percent market share in Europe. With more than 3,700 employees in 26 locations in 21 countries, the company achieved sales of €848 million ($1.24 billion) in 2006. In addition to its strong position in Western Europe, the group is already well established in the high-growth markets of Central and Eastern Europe, including Russia and Ukraine, where it generates more than 50 percent of its overall revenues, officials report.
“The investment represents an opportunity for our investors to participate in the long-term growth opportunities of Eastern Europe, a high-growth region where there is still a shortage of housing and a pressing need to renovate a considerable quantity of the existing stock, states Atif A. Abdulmalik, Arcapita CEO. “The business is led by a strong management team and we look forward to working closely with them in growing the company.”
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