Private equity firm, Advent International has sold Deutek, Romania’s largest manufacturer of decorative paints and coatings to Emerging Europe Accession Fund (EEAF), the third private equity fund managed by Axxess Capital. The value of the transaction was undisclosed.
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. Advent’s shared vision of sustainable growth over the last nine years successfully shaped Deutek and positively influenced the Romanian competitive decorative paints industry.
Founded in 1993, Deutek originally imported its paints from Germany, switching to local production in 1998. Since then, leading brands such as Danke!, Oskar and Superweiss continuously imposed new quality standards driven by innovative research and the latest technological updates.