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Private equity in action - Case Study

PE in CEE - Deutek


Romanian paints and coatings innovator

Freshening its positioning with innovation and marketing brightened growth, profits and strategic appeal



GP Axxess Capital GROWTH +46% sales in premium products
INVESTMENT EUR 12.5 million EMPLOYMENT 22 new jobs
SECTOR Paints and coatings INVESTMENT TYPE Buyout
EXIT January 2017 EXIT ROUTE Trade sale

Investment rationale
Axxess foresaw a cyclical upturn in the Romanian paints and coatings industry driven by a housing shortage and growing demand for renovation projects. The competitive landscape was favourable - local players were struggling in the downturn and there were no multinationals. Axxess was convinced that the right executive team could leverage Deutek’s excellent position and strong brand recognition, while at the same addressing its financial and regulatory shortcomings.


Deal history and structure                                                                                                                        Deutek was owned by a global PE fund looking to exit. The company was highly indebted after an unsuccesful investment programme, and the bank demanded full repayment. Using its industry experience and armed with a professional plan, Axxess convinced a new bank to refinance Deutek. This enabled it to close the deal, investing EUR 12.0 million of equity and EUR 0.5 million of subordinated debt.



Axxess Capital

In this section
Private Equity in CEE: Creating Value and Continued Growth Image

Private Equity in CEE: Creating Value and Continued Growth

11 Feb 2021
Invest Europe

The report offers an in-depth study of private equity’s role in innovation and economic development across Central and Eastern Europe through detailed case studies of companies backed by private equity investors during 2015-2019.

Download PDF 8.26 MB

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