Advent completes Corialis SBO

Ellie Pullen
30 October 2014

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Advent International has announced the completion of its secondary buyout of Corialis Group, a Belgian aluminium systems developer, from Sagard and Ergon Capital Partners.

The firm entered exclusive negotiations with the selling shareholders in August. Corialis's management, led by CEO Johan Verstrepen, have invested alongside Advent.

Advent's plans for the business include further internationalisation; the company currently distributes its products in 20 countries. The GP plans to use the strategy Corialis applied to the French, Polish and UK markets and will consider bolt-ons to extend its reach.

Sagard and Ergon picked up Corialis in January 2007 from Motion Equity Partners, jointly acquiring a 75% stake, with Sagard taking 51% and Ergon 21%. The remaining shares in the business were retained by management in the deal, which was reportedly worth around €430m.

Founded in 1984 and headquartered in Lokeren, Corialis supplies aluminium systems for windows, doors and conservatories to retailers and installation firms. It employs 1,600 staff and generates revenues of €350m in the year ending September 2014.