Coventya strengthens its position in Turkey

Coventya, a leading global manufacturer of speciality chemicals for surface treatment and a Fund II portfolio company belonging to the European private equity firm Silverfleet Capital, has acquired two Turkish chemical companies. Coventya now has an 80.6 % interest in Politeknik Metal Sanayi ve Ticaret A.Ş. (Politeknik), a leading manufacturer of aluminium surface treatment (AST) chemicals. Politeknik has a modern manufacturing facility in Tuzla in Turkey and also an affiliated company in the USA, based in Atlanta. It currently exports 20 % of its chemical production and has an annual revenue of more than nine million euros. Coventya plans to use its distribution network to expand its share of the AST chemicals market in the USA and Europe in order to meet the growing demand for lightweight materials in the automotive and construction industries and in other sectors. The company's second acquisition is Telbis, Coventya’s exclusive distributor of chemicals to the general metal finishing (GMF) market in Turkey. The company has an annual revenue of around three million euros and will be renamed Coventya Kimya. It will be able to draw on the resources of the group to increase its market share in the region. Coventya’s total investment in the two companies amounts to around 18 million euros.

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