SEVES Group has sold VITRABLOK to ASC Investment
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that SEVES Group (“SEVES”), a Triton Fund III company, sold its Glass Block Division VITRABLOK (“VITRABLOK” or the “Company”) to private equity firm ASC Investment Sàrl. Lincoln International was able to successfully work on this international assignment with a combined team from Italy and Germany and leverage its access to a global investor base. Terms of the transaction were not disclosed.
Headquartered in Duchcov, Czech Republic, VITRABLOK is the global market leader of glass blocks for interior and exterior architectural applications. The Seves Glass Block Division employs about 300 people and with a turnover of Euro 28 million. For further information, please visit: www.sevesglassblock.com.
“We are delighted to have found a suitable home for this business division, so that it can continue to grow profitably in accordance with its future standalone requirements and developments. VITRABLOK has been a very valuable part of the SEVES Group for many years. However, we want to focus in the future on our core insulator business”, said Peter Baumgartner, CEO SEVES Group.
Lincoln International was retained by VITRABLOK shareholders as exclusive financial advisor. Lincoln worked closely with the Company’s Management team and shareholders, generating excellent work quality and maintaining a strong level of communication throughout the process, which helped them navigate through a complex cross-border transaction involving multiple parties across different countries to a successful close.
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