CPS Color acquires Pinova AG
Published September 13, 2011
CPS Color Group Oy, Vantaa, Finland, has acquired Switzerland-based Pinova AG. According to CPS, Pinova is the market leader in colorants for facade coatings and wet plasters in German-speaking Europe and CEE countries. The seller is a fund managed by Afinum Management GmbH, a mid-market private equity fund manager in German-speaking Europe. One of Pinova’s core strengths is in the development of tailored colorant systems for the construction, paint and coatings market. With the addition of Pinova’s Novapint product range, CPS Color will further expand into the niche market of wet plaster colorants. The European plaster colorant market is estimated to grow by 6.5 percent per annum over the next three years, the company said. The majority of Pinova’s sales are generated from facade products, with more than half of those related to colorants used for plaster applications. Pinova also provides industrial colorant solutions that are frequently used in high-end wood and metal coatings applications.
blog comments powered by Disqus