CPS Color Acquires Pinova
CPS Color Group Oy, Vantaa, Finland, the global leader in integrated tinting solutions for paints and coatings, has acquired Switzerland-based Pinova AG. Pinova is the market leader in colorants for facade coatings and wet plasters in German-speaking Europe and CEE countries. The seller is a fund managed by Afínum Management GmbH, one of the leading mid-market private equity fund manager in German-speaking Europe. The parties have agreed not to disclose the terms of the agreement.
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 high quality industrial colorant solutions that are frequently used in high-end wood and metal coatings applications.
With the addition of Pinova’s market leading Novapint product range, CPS Color will further expand into the attractive niche market of wet plaster colorants which shows excellent growth potential. The European plaster colorant market is estimated to grow by 6.5 percent p.a. over the next three years.
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