All Fund Portfolio

CEECAT Capital acquires a majority stake in Modulo Decorative Solutions

CEECAT Capital has acquired a majority stake in Modulo Decorative Solutions, the leading player in stone veneer wall cladding solutions in southeastern europe. The partnership will transform the company and create a unique asset in the region.

Deal Type: Growth Equity - Majority Buyout
Country: Romania (65%+ Exports)

With 40 years of industry experience and a French heritage, Modulo has established itself as a market leader in stone veneer wall cladding solutions for the indoor and outdoor remodelling and renovation, through the expansion of its product range, improving its production capacity and growing the volume of its exports to Europe and North America.

Over the past few years significant investments have been made in new production facilities and processes, product quality, range and innovation (such as digital printing on 3D support), as well as organizational streamlining, resulting in industry leading manufacturing capabilities.

CEECAT Fund II focuses on regional champions supporting the Fund’s themes primarily driven by opportunities from generational change, growing core convergence with developed Europe and the region’s export competitiveness.

Anthony Stalker, Partner of CEECAT Capital:
"We have been impressed with the technical and proprietary R&D strength of Modulo.  Capitalizing on these, CEECAT intends to dedicate resources and support Modulo in order to achieve its growth potential via automated production capacity increases and add-on acquisitions in strategic locations, strengthening of its competitive position in domestic and international markets, coupled with distribution channel diversification and increase in the sales force.  Building on our strong track record in investing in the building materials sector in CEE and Turkey, this acquisition also marks CEECAT Fund II’s first investment in Romania. We are delighted that Mr. Mihai Gavris, the current general manager, will remain a shareholder and continue to lead Modulo, together with his highly experienced management teams in Romania and France, supported by a strengthened Board of Directors and select industry experts."

Mihai Gavris, CEO of MODULO: 
“CEECAT is a strong and experienced partner, with the necessary resources and know-how to accelerate the company’s expansion plans and to maximise its future growth opportunities.  CEECAT has access to additional capital for future acquisitions and will make its operational and sector expertise available to support management in the execution of our strategy. Modulo’s management team will be working alongside CEECAT to transform the company and create a unique stone veneer asset in the region.  We are looking forward to the next phase of business growth and corporate development under CEECAT’s ownership.”

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