Avallon to acquire Clovin

Avallon will take over a majority stake in Clovin through a special-purpose vehicle; the rest of the shares will remain in the hands of the company's founders.

The GP is currently deploying equity from Luxembourg-based Avallon MBO Fund III. The fund targets Poland-based SMEs generating turnover of PLN 50-250m (€12-60m) and deploying tickets in the PLN 30-40m (€7-9m) range, according to Unquote Data.

Company
Founded in 1995 and headquartered in Czyzew, Clovin is a family-run manufacturer of washing powders and other cleaning agents for water laundries, hotels and hospitals. In 2018, Clovin posted revenues of PLN 110.7m and net profit of PLN 10.4m, according to Polish newspaper Puls Biznesu. The company operates in Poland as well as in Germany, Belarus, the Netherlands, Hungary, Lithuania, Russia, Ukraine and Kazakhstan.

People
Clovin – Anna Twardowska (commercial director).

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• Topics
• Buyouts
• CEE
• Consumer
• Avallon MBO
• Poland