Rosti Group, Swedish privately-owned plastics processor, with annual sales of EUR 400 million, signed an agreement regarding the acquisition of 100 percent of the shares in the Dutch holding company Boog B.V., and indirectly the Bianor group of companies, from the Dutch-German based private equity company, Nimbus Investments, a press release informs on Wednesday.
Founded in 1997 as a Polish-Dutch joint venture, Bianor has since developed a state of the art factory in Bialystok, Poland (2012) and a second facility in Ploiesti, Romania, 60 km outside Bucharest (2013).
Bianor will be incorporated into the European division of the Rosti Group, led by Executive VP and Deputy CEO Barry Coughlan, who commented: “(…) This (ed. note ‘acquisition’) will enhance our capacity, capability, customer base and geographic positioning, giving Rosti the opportunity to support additional customers within our global footprint. Bianor has an excellent culture, a skilled and dedicated workforce, modern facilities and a reputation for innovation and continuous improvement.”
In his turn, Borje Vernet, CEO of the Rosti Group, commented, “(…) We are now focusing on our new financial targets, including a new sales target of EUR 900 million by end of the decade. (…) With Rosti facilities in the United Kingdom, Germany, Sweden, Poland and Turkey and, following the acquisition of Bianor, also in Romania, we have excellent coverage in Europe which is a good complement to our highly successful businesses in China and Malaysia.”
Combined, the two facilities in Poland and Romania offer 20,000 square meters footprint of modern manufacturing capacity, plus an additional 12,000 square meters of warehousing space. Bianor has in excess of 80 injection moulding machines ranging from 50 to 1,200 ton clamping force.
The transaction is expected to close in the third quarter of 2015, subject to necessary approval by the Polish Office for Competition and Consumer Protection.
Last year, the factory in Ploiesti generated a turnover of over EUR 2 million and a loss of EUR 500,000, according to Ministry of Finance data. The factory had 17 employees at the end of last year.