SEVES Group sold its Glass Block Division VITRABLOK

SEVES Group sold its Glass Block Division VITRABLOK
Photo source
www.sevesglassblock.com

Date: 24 January 2018

SEVES Group, a Triton Fund III company, sold its Glass Block Division VITRABLOK to private equity firm ASC Investment.

“We are delighted to have found a suitable home for this business division, so that it can continue to grow profitably in accordance with its future standalone requirements and developments. VITRABLOK has been a very valuable part of the SEVES Group for many years. However, we want to focus in the future on our core insulator business,” said Peter Baumgartner, CEO SEVES Group.

“We appreciate the support the SEVES Group has given us for many years and we are now looking forward to the next level of development of VITRABLOK under the new ownership of ASC Investment” added Petr Kralik, CEO of VITRABLOK.

ASC Investment commented “We are delighted to have acquired VITRABLOK and will work closely with the strong management team lead by Petr Kralik on the ongoing rejuvenation and innovation of VITRABLOK’s product portfolio, as well as in supporting the company’s international expansion to further underpin VITRABLOK’s global leadership in the glass blocks market, both in terms of technology and quality. VITRABLOK will be the only independent player in the market, 100% focused on the glass block product.”

600450 SEVES Group sold its Glass Block Division VITRABLOK glassonweb.com

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