Advent International has acquired a majority stake in Kai Group, Bulgaria’s largest manufacturer of interior and exterior floor, wall and decorative ceramic tiles.
No deal terms were disclosed for the purchase of the 70% stake.
Kai Group produces over 14 million square metres of tiles per year at two production facilities and employs more than 1,000 people.
Advent said that it will help the company strengthen senior management, improve IT systems, expand sales and marketing and enhance its product range.
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