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Position as full-range supplier strengthened
In mid-June 2010, the Tyrolean wood-based material manufacturer EGGER signed the purchase contracts for the takeover of 71.5 percent of the shares in the Turkish edgeband manufacturer Roma Plastik, Gebze, as well as an option for the acquisition of the remaining shares. The remaining 28.5 percent of the shares are held by ROMA management. Both sides have agreed to keep the purchase price confidential. The takeover will be finalised subject to approval by the Turkish Competition Board.
“The majority holding in the company Roma Plastik strengthens our position as a full-range supplier,” says Thomas Leissing, Head of Finance / Administration EGGER Group and management spokesman, in support of the purchase. “The strong presence of Roma in Eastern and Southern Europe as well as the Middle East is of particular importance to us in this transaction, since these countries are among the key strategic markets for EGGER,” adds Ulrich Bühler, Head of Sales / Marketing EGGER Group.
Roma Plastik is among the leading global edgeband manufacturers and is active in more than 50 countries. The company was founded in 1996 and, with 400 employees and a turnover of approximately EUR 50 million, is the largest manufacturer of PVC, melamine and ABS edgebands in Southern and Eastern Europe. Roma has also been represented by a sales office in Rheda-Wiedenbrück, Germany since the year 2009.
“I am pleased to have found a competent partner for our company with the EGGER Group. This will assure the future of Roma and create new opportunities for progress,” comments Aydin Robert Baler, CEO of Roma Plastik.
SUCCESSFUL DEVELOPMENT WITHIN THE LAST FOUR YEARS
EGGER acquires Roma Plastik from funds advised by private equity firms Turkven Private Equity and Advent International, who have held a majority share since 2006. The funds and the management team have considerably grown the company both in terms of its product range and its geographic orientation during their ownership and the sale to EGGER concludes a successful investment for both firms. The sellers were advised by Standard Unlu Bank of Turkey.
INTEGRATED OFFERING FROM THE BOARD TO THE EDGING
With the acquisition of the Roma shares, the EGGER Group continues its growth and expands its product spectrum with edging produced in-house. As a full-range supplier for the furniture industry, distribution, fabricators and architects, EGGER emphasises matching colours and materials. The company offers its customers solutions from a single source. “We will be in an even better position to live up to this promise in the future. In addition, our ability to harmonise product developments for decors and surfaces between the edging and the melamine surface will be enhanced,” says Ulrich Bühler, Head of Sales / Marketing EGGER Group.
With 5,500 employees and a turnover of EUR 1.5 billion (2008/2009 business year), the EGGER Group with its headquarters in St. Johann in Tirol is one of the leading international wood processing companies. Founded in 1961, the family company has 15 production plants across Europe and customers around the world including the furniture industry, wood distributors and DIY markets. EGGER products are found in countless areas of private and public life: in kitchens, bathrooms, offices, living rooms and bedrooms. Following the guiding principle “More from Wood”, the Tyrolean wood-based material manufacturer offers a comprehensive product range of coreboards made of wood-based materials (chipboards, OSB boards and MDF boards) as well as timber under the EGGER umbrella brand. The production capacity in the 2008/2009 business year was 6.35 million m³ (224.25 million cubic feet). Most of these base materials are upgraded with trend-conforming decors and surfaces.