HT Troplast for Sale
HT Troplast, the German PVC window profile company that owns the trademarks Kommerling, KBE and Trocal, has been put up for sale by its private equity owners Carlyle Group in Dallas and Advent International in Boston.
The two companies bought HT Troplast early in 2005 for a reported 300 million euros (approximately $413.6 million today).
Sources in Europe, who wished to remain anonymous because the company is in play, explained to Door & Window Manufacturer (DWM) that some years ago when HT Troplast was being prepared to be sold by Ruttgers AG, the company implemented the PVC window brand Profine as the parent for its KBE, Kommerling and Trocal brands. "Profine, or maybe more accurately Profine Group, was created just to be a company to be bought by investors," a source said. "I guess if HT is going to be sold, there is a good chance that the PVC window activities, Profine, will be sold again.
Speculation is that the Profine companies will be kept together, as they are the biggest PVC window fabricator and seller in Europe. Dismantling the company to sell the different brands does not seem likely because that would take away the market advantage of the biggest European producer as well as the synergy of the different elements.
The source did tell DWM that, with different PVC window brands in the market in Eastern Europe, it might make sense to buy some parts of Profine if the buyer had interests in a particular country where those brands could be used.
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