MANAMA, 13 November 2007 — Arcapita Bank, a leading international investment firm headquartered in Bahrain, announced that it and its affiliates have completed the acquisition of Profine GmbH, the leading European developer, manufacturer and marketer of PVC window and door frames. Profine was previously owned by Advent International and Carlyle Group.
Arcapita’s Chief Executive Officer Atif A. Abdulmalik, said: “The closing of the acquisition of Profine has been achieved despite the turbulent private equity and credit markets. The investment represents an opportunity for our investors to participate in the long-term growth opportunities of Eastern Europe, a high-growth region where there is still a shortage of housing and a pressing need to renovate a considerable quantity of the existing stock.”
Profine, headquartered in Troisdorf, Germany, currently has a production capacity of more than 450,000 tons of high-quality PVC frames and its 22 percent market share in Europe makes Profine the clear market leader. With its three brands, KBE, Kömmerling and Trocal, it employs a total of more than 3,700 employees.