Exit File: emerging markets CEE

KVK HOLDING

ARX Equity Partners exited its investment in Czech construction materials manufacturer KVK Holding via a sale to Sika CZ, a subsidiary of Swiss-headquartered speciality chemicals company Sika.

KVK operates six production sites in the Czech Republic – three for the manufacture of mortar products, two for bituminous membranes and one for expanded polystyrene insulation – and generated revenues of €40 million in 2016.

ARX acquired a majority shareholding in KVK from retiring owners in 2010.

The company executed its first add-on in 2011, acquiring KRPA Dehtochema, augmenting its position in the Czech and Slovak bituminous membranes market.

Later that year KVK acquired Penopol, facilitating its entry into the adjacent expanded polystyrene market segment.