BUCHAREST, 14 August 2013 – Advent International, one of the world’s leading firms dedicated solely to private equity, today announced the sale of 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.

Through Deutek’s distribution systems, which are some of the most efficient in the industry, these leading brands are now widely available to any Romanian consumer in more than 3,500 modern and traditional retail outlets or delivered direct to construction sites.

Gabriel Enache, Chief Executive Officer of Deutek, said: “Advent International has provided us with continuous support since their investment in 2005 and played a key role in the success and growth of our company during this time. We look forward to building on this progress and securing a market-leading position under the new ownership of Axxess Capital.”

Commenting on the sale of the business, Sebastian Tcaciuc, Director, Advent International said: “We have enjoyed our partnership with the management team of Deutek, working with them to establish the recognised brand that the company has become today. The business is now well-positioned to take advantage of the many opportunities in the Romanian market and to continue to pursue its growth strategy.”

Horia Manda, Managing Partner of Axxess Capital, said: “Deutek is the first Romanian investment of EEAF, the third private equity fund managed by Axxess Capital. We are looking forward to working with the young, energetic and skilled management team assembled by Advent International. We are optimistic that our 15 years of experience in developing financial, industrial and service businesses in Romania and South-Eastern Europe will strongly support the company’s efforts to accelerate growth and further enhance its market leadership.”

Advent has been active in the chemicals industry for more than 25 years and has invested in over 30 companies in the sector globally. The firm has developed a strong track record in acquiring these businesses from multinational corporations and enabling them to become successful independent companies. Advent’s recent investments in the chemicals and materials sector include H.C. Starck, Maxam, Mondo Minerals, Oxea and Vinnolit.