Belgian group Corialis bought out for 1 billion euros by CVC
Thursday, 30 March 2017
The Belgian group Corialis, one of the European leaders in aluminum products for building construction, was sold on Thursday for approximately one billion euros, including debt, to the investment fund CVC Capital Partners by another fund, Advent International. Created in 1984 in Belgium, Corialis is one of the first European manufacturers of aluminum profiles for windows, doors and verandas, according to a CVC press release.
Corialis has an annual turnover of approximately 500 million euros and has 1,900 employees worldwide.
The group has four main production sites in Europe: Lokeren (Belgium), Montpellier (France), Lublin (Poland) and Bristol (United Kingdom).
It also includes secondary sites in Reunion Island, South Africa, China and recently in Serbia.
The group’s growth has accelerated since its acquisition by Advent International in October 2014, where its 12-month turnover amounted to 350 million euros, and has a workforce of approximately 1,600 employees at its main sites.