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Advent International completes the sale of Ceramica S.A. to ADM Capital

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July 15th 2014 - Advent International, one of the largest and most experienced global firms dedicated solely to private equity, today announced that it has completed the sale of its 100% stake in EuroBrick International B.V. to ADM Capital, an investor in Asia and Central and Eastern Europe.  Terms of the transaction were undisclosed.

EuroBrick International B.V. is the largest shareholder with an 85% stake in Bucharest-listed Ceramica S.A. (“Ceramica”), one of Romania’s leading ceramic and clay brick producers. Advent acquired the business of Ceramica indirectly in December 2007 and since then has been working alongside the professionalised management team of Ceramica to grow the business both domestically and on an international scale, strengthening its market position.  Ceramica has consolidated its market position and is now a key player in the construction materials market in Romania having increased its market share from 6 per cent in 2008 to 20 per cent in 2014 and expanding in to neighbouring markets in Ukraine and Moldova.

Commenting on the sale, Emma Popa-Radu, Managing Director, Advent International, said, “Under our ownership through EuroBrick International B.V., Ceramica has established itself as a market leader through the expansion of its product range, improving its production capacity and growing the volume of its exports to countries in the region. We have enjoyed a successful partnership with Ceramica and its management team and are glad to see that with our support, the company has been able to realise its growth potential.”

Iulian Mangalagiu, Chief Executive Officer, Ceramica Iasi, added, "We would like to thank Advent for the resources and support they have dedicated to improving Ceramica’s competitive position in the market, expanding our capacity and presence both domestically and cross-border, over recent years. By applying their considerable sector and regional investment experience, a number of successful operational improvements have been made which mean that Ceramica is now well placed to maximise future growth opportunities.  We look forward to building on this solid platform and embarking upon the next phase of our corporate development under ADM Capital's ownership."

Florian Huth, Partner of ADM Capital and Head of CEE/ CIS, commented, "ADM Capital is delighted to partner with an excellent management team and aims to continue the growth of the company and its expansion into new market segments. This investment marks ADM Capital’s first deal in Romania, and based on the experience gained through our earlier two investments in the construction and brick industry in Turkey we are confident ADM Capital can create substantial synergies and help Ceramica to emerge as a regional leader."

Radu Taracila Padurari Retevoescu SCA in association with Allen & Overy LLP acted as legal counsel to Advent International and CMS Cameron McKenna LLP acted as legal counsel to ADM Capital.


About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global investors dedicated solely to private equity. Since inception, the firm has invested in more than 290 buyout transactions in 39 countries and today has EUR 23.3 billion in assets under management. With offices on four continents, Advent has established a globally integrated team of over 170 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on growth and traditional buyout and strategic repositioning transactions across five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology, media and telecoms. After 30 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for portfolio companies.

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About ADM Capital

ADM Capital has been investing in emerging markets for 15 years. Founded in 1998 during the Asian Financial Crisis, ADM Capital has developed strong in-country relationships with investee companies allowing it to build a lasting presence both in Asia and more recently in CEE, Russia, CIS and Turkey. ADM Capital has invested US$2.9bn in over 110 investments since inception - and currently manages US$1.6bn. ADM Capital’s operations comprise offices in London, Kiev, Istanbul, Almaty, Mumbai, Beijing and Hong Kong with a global team of over 50 professionals.


Emma Popa-Radu

Managing Director, Head of Bucharest, Romania

T: +40 21 211 16 02
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