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Carmyco SA, a Greek paints and adhesives group, was sold to Plena Group in Sweden.
ICFG Athens advised the seller in 2012.
Carmyco SA, a Greek paints and adhesives group, was sold to Plena Group in Sweden.
Target Company Name Carmyco SA
Deal Types
  • Mergers & Acquisitions
Target Country Greece
Buyer Name / MBO Team / MBI Team Plena Group
Buyer Country Sweden
Transaction Description

Euroconsultants SA announces that it served as an exclusive financial advisor to the shareholders of Carmyco SA, a Greek paints and adhesives group, in the sale to Plena Group, a financial group of Swedish interests with focus on building materials.

Plena Group is owned by a UK-based Swedish investor and is active in Europe and Africa in building materials as well as other sectors. In Greece it is already present through the YTONG-THRAKON Group of companies producing mortars, construction chemicals and aerated concrete blocks.

Carmyco SA is an industrial company with roots since 1963 producing construction paints, industrial adhesives, acrylic plasters, waterproofing products and admixtures. It has an important market share in Greece and exports more than 30% of its sales to 10 countries in SE Europe and MENA. It has also an operation in Romania.

The combination of the two groups creates very substantial cost and revenue synergies since there is absolute complementarity in both product mix and market access, according to principals of both counterparties.

Euroconsultants Group is a leading consulting and advisory house in the region around Greece. With staff of 120, it has physical presence in 10 countries of the wider region covering SE Europe, Turkey and GCC. In the area of investment banking and corporate finance advisory it is very active in cross-border mid-market M&A transactions and privatizations, focusing in Greece and Turkey mainly through international investors.

Industry Sectors
  • Building and Infrastructure
  • Chemicals
  • Industrial Manufacturing
ICFG Office Athens, Greece
ICFG Advisory ICFG Athens advised the seller in 2012.

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