Corialis acquired by CVC Capital for almost EUR 1bn (translated)
The Belgian aluminium company Corialis has been acquired by CVC Capital for almost EUR 1bn, the Belgian daily De Standaard reported, citing Corialis CEO Johan Verstrepen.
It is the fourth time Corialis has been sold to a new owner, the report said. The previous owner, Advent, acquired Corialis three years ago for EUR 650m.
Corialis was founded 20 years ago, Johan Verstrepen told the newspaper.
Corialis expects a turnover of EUR 450m this year with a gross profit of EUR 100m, the report said.
Besides CVC Capital, Carlyle, KKR, PAI and Argost were also interested in acquiring the company, De Standaard reported.
Verstrepen said he will hold a 11% stake in the company.