Advent completes US$30m bolt-on

International private equity firm Advent International has completed a €19m (US$30m) bolt-on to its Romanian decorative paints producer Dufa Deutek. The company has acquired Bengoss, a Romanian mortar and core adhesives maker and will enable Dufa Deutek to expand into the constructions materials sector.

The enlarged business is aiming to generate revenues of €65m in 2009.

This is the second deal Advent has completed in Romania in a week. Last week, it backed the buyout of LaborMed Pharma, a manufacturer and distributor of generic pharmaceuticals. LaborMed was founded in 1991 and has anticipated turnover to year end 2007 of €29m.