SEVES Group sold its Glass Block Division VITRABLOK
Luxembourg (Luxembourg)/Florence (Italy)/Duchcov (Czech Republic), 12 January 2018 – SEVES Group, a Triton Fund III company, sold its Glass Block Division VITRABLOK to private equity firm ASC Investment.
“We are delighted to have found a suitable home for this business division, so that it can continue to grow profitably in accordance with its future standalone requirements and developments. VITRABLOK has been a very valuable part of the SEVES Group for many years. However, we want to focus in the future on our core insulator business,” said Peter Baumgartner, CEO SEVES Group.
“We appreciate the support the SEVES Group has given us for many years and we are now looking forward to the next level of development of VITRABLOK under the new ownership of ASC Investment” added Petr Kralik, CEO of VITRABLOK.
ASC Investment commented “We are delighted to have acquired VITRABLOK and will work closely with the strong management team lead by Petr Kralik on the ongoing rejuvenation and innovation of VITRABLOK’s product portfolio, as well as in supporting the company’s international expansion to further underpin VITRABLOK’s global leadership in the glass blocks market, both in terms of technology and quality. VITRABLOK will be the only independent player in the market, 100% focused on the glass block product.”
About SEVES Group
SEVES Group is the world’s leading manufacturer of high voltage electric insulators. The Group consists of two independent business units: SEDIVER - glass Insulators for transmission lines and PPC - porcelain insulators for substations, transmission- and distribution lines.
For further information: www.seves.com
Headquartered in Duchcov, Czech Republic, VITRABLOK is the global market leader of glass blocks for interior and exterior architectural applications. The Seves Glass Block Division employs about 300 people with a turnover of €28 million.
For further Information: www.sevesglassblock.com
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 34 companies currently in Triton's portfolio have combined sales of around €14 billion and around 90,500 employees.
The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, China, Luxembourg and Jersey.
For further information: www.triton-partners.com