On 21 August 2008, Advent International sold Bolix to Berger Paints India Ltd [BSE: 509480; NSE: BERGEPAINT]
The sale marked the successful outcome of a five year restructuring programme that resulted in double-digit revenue growth, positioning Bolix as Poland’s leading provider of specialist exterior finish insulation systems. Bolix’ annual turnover exceeded 100 million Zlotys ($45.5 million) in 2007.
A key focus of our investment was the transformation of a pure manufacturer into a service-oriented business. Initiatives included strengthening the company’s logistics, improving sales support across the wholesale channel and the introduction of pioneering on-site services for contractors.
An active cross-border expansion programme saw a tripling of export sales in Ukraine, Russia and the Baltic States. The company also successfully entered the DIY market and augmented its portfolio through the launch of several innovative products.