The Central European investment group Penta announced it acquired Okna Rąbień, a leading Polish manufacturer of plastic and aluminium windows. Okna Rąbień is already Penta´s sixth acquisition in Poland. The transaction value has not been disclosed.
Penta acquired the business from its founders while executive managers decided to stay with the company and expand its operations jointly with its new owner. The strategy of Penta and the management envisages dynamic cross-border expansion and consolidation of the Central European market. The company plans to broaden its product portfolio, especially in aluminium, and also considers launching other new products.
“We like the company because we consider it a good platform for further regional expansion. We plan to acquire other window manufacturers in the region to support the ongoing CEE expansion, Czech Republic and Slovakia being first at the list, but we are also casting our nets in other markets. Our joint target with the management is to become number one window producer in Central Europe in three years,” says Jozef Janov, Penta’s Managing Partner for Poland.
Okna Rąbień was founded in 1997 and now is the number two market player in Poland. Except Poland, it is one of the leading window producers in the Czech Republic, Slovakia and Hungary. Altogether Okna Rąbień exports into more than 10 countries in both Eastern and Western Europe. In 2008, the company’s estimated turnover is EUR 60 million and has 550 employees.
“We welcome such a strong financial partner as Penta as a new shareholder. The window market is very dynamic and competitive and a strong financial partner is a good choice in the time when our company is growing more than 30 % per year. We plan to revise our investment and acquisition strategy in coming months with the aim to become regional leader,” says Rafał Kucharski, CEO of Okna Rabień.
Windows produced in Okna Rąbień already have a strong position on several European markets. “Our firm is known for high quality, competitive delivery terms and is appreciated by customers for good pricing policy” Mr. Kucharski added. “We managed to reach such high quality of production due to carefully selected business partners delivering raw materials – Aluplast for profiles and G-U for hardware, both well known German companies belonging to the leading companies in the window industry.”
Okna Rąbień is already Penta’s sixth investment in Poland joining Dr. Max pharmacies, Fortuna betting shops, Żabka chain of convenience stores and Stream and Mobilking telecommunications providers. The acquisition is a fit with the group’s long term strategy of expansion to other countries in Central and Eastern Europe.