Afinum Fünfte Beteiligungsgesellschaft mbH & Co. KG, advised by Munich-based AFINUM Management GmbH, sells all shares of Pinova AG, Lengnau/Switzerland to CPS Color Group Oy, Finland. The existing management team of Pinova AG retains its operating responsibilities. The site in Switzerland is planned to be CPS Group´s compentence centre for coloring pastes for outdoor use.
Afinum has acquired Pinova in 2007 from the founders and supported the focussed further development of the company while maintaining the high technical standards of the products as well as above-average margins. To this effect, international sales capabilities were strengthened and the product portfolio was expanded. In addition, a team of long-standing managers succeeded the entrepreneur in his managing role. With CPS Group as a global market leader for coloring pastes, an ideal partner was identified to give Pinova a new long-term perspective via access to a global distribution network, increased production capacities as well as a joint purchasing organization.
With its investment in Pinova, Afinum has shown its ability to generate substantial value during the execution of a corporate succession plan. This was achieved by supporting the company in its transfer from a shareholder-manager to an external management team and the eventual sale to a strategic partner with an attractive development perspective for the company, while at the same time protecting jobs and the existing production site.
Pinova (www.pinova.ch) is a leading manufacturer of coloring pastes and tinting systems. These coloring pastes are a primary product in the production process of colors, paints or plasters and are used to color these base products. Tinting systems consist of a complete set of coloring pastes with which any color of the desired spectrum can be generated, a dosing and mixing machine, a color database and the control software. The most important use of Pinova´s products is the sophisticated process to color wet building plasters. In addition, the products are used in industrial applications such as colors for ICE trains, agricultural machinery or kitchens. Pinova currently generates
revenues of approximately 20m EUR with ca. 30 employees.