The Central European investment group Penta enters to the Noves okna, s.r.o., a leading window manufacturer in Slovakia. The transaction is the subject of Antimonopoly offices approval. It is the second acquisition of Penta in the window industry, after the recent transaction of Polish window manufacturer Okna Rabien. The transaction value has not been disclosed.
Noves is well known by producing high-quality premium plastic and aluminium windows and doors.
“In the upcoming three years, we are ready to invest into Noves more than EUR 3 million, to increase production capacities and to hire more employees. We are creating the multinational holding, which enables us to benefit from the number of synergies between the production and distribution networks,” says Jozef Janov, Penta’s Managing Partner for Poland.
“Our customers will be provided by the largest portfolio of the economy and premium windows. Both of the companies, Okna Rabien and Noves will use each others distribution networks in order to support the sale of our overall portfolio,” says Rafał Kucharski, CEO of Okna Rabień.
“We appreciate, that strong investor supports our company and that Noves along with Okna Rabien is becoming the part of the new multinational holding. It gives us a strong impetus for the further development of our company,” says Frantisek Vartovnik, the owner of Noves.
Penta is aimed to consolidate the Central European market and to create the multinational holding company. The negotiations about the new acquisition in the Czech Republic have already been started.
Penta in the “window” industry:
- In October 2008 the acquisition of Okna Rabien was announced. Okna Rabien, with revenues of EUR 60 million and with 550 employees belongs to the largest producers in the region exporting to more than 10 countries
- Noves, the Slovak producer has roughly revenues of EUR 20 million and provides 200 jobs
- The holding investment strategy is based on three pillars:
- unique highly motivated and aggressive renumeration scheme for our sale staff – dealers depended on the sales volume. In experiencing this, Okna Rabien has been reaching an over 20% of annual growth, though the market has been stagnating
- cost efficiency leadership through manufacturing and distribution network and savings from scale
- providing the largest portfolio of economy and premium products meeting market demand completely with uncompetitive quality and delivery periods.