VANTAA, Finland - CPS Color Group Oy has acquired Switzerland-based Pinova AG. Pinova is a market leader in colorants for facade coatings and wet plasters in German-speaking Europe and Central and Eastern Europe countries. The seller is a fund managed by AFINUM Management GmbH, one of the leading mid-market private equity fund managers in German-speaking Europe. The parties have agreed not to disclose the terms of the agreement.
One of Pinova’s core strengths is in the development of tailored colorant systems for the construction, paint and coatings market. Just like CPS Color, its products are well ahead of the latest environmental and technological regulations.
With the addition of Pinova’s Novapint product range, CPS Color will further expand into the niche market of wet plaster colorants, which shows excellent growth potential. The European plaster colorant market is estimated to grow by 6.5 percent per annum over the next three years.
The majority of Pinova’s sales are generated from facade products, with more than half of those related to colorants used for plaster applications. Pinova also provides industrial colorant solutions that are frequently used in high-end wood and metal coatings applications. Colorants for wet plaster applications pose particular challenges in terms of base material compatibility and long-term durability due to direct sunlight and environmental factors. Pinova has 30 years of experience in offering solutions for state-of-the-art colorant ranges fulfilling the highest demands in terms of water repellence and weather fastness.
CPS Color Acquires Pinova AG
September 14, 2011