Innova Capital has agreed to sell its stake in Trimo for 164 million euros. The buyer is Recticel. The deal is expected to close in the third quarter of this year. Trimo is a European producer of facade and building envelope solutions.
Innova Capital secures another home-run exit by selling Trimo to Recticel
Innova Capital, a leading private equity firm in Central Europe, has entered into a binding agreement with Recticel to sell a 100% stake in Trimo for an enterprise value of EUR 164 million. The transaction marks another home-run exit for Innova yielding over 4.5x return on the investment. Completion of the deal remains subject of customary conditions precedent and is expected to take place in Q3’22.
– We are very pleased that Trimo finds its new home as part of Recticel – said Andrzej Bartos, Senior Partner at Innova Capital who has led the investment. – Given the strong business and cultural fit between the two companies, I’m very confident Trimo will continue its dynamic development and benefit from being a member of such a respectable group. I’d like to thank the Management, led by Božo Černila, and all employees for almost 6 years of great partnership – added Bartos.