Baltisse acquires POLFLAM, a Polish fire-resistant glass manufacturer rapidly expanding across Europe. The selling shareholders were the two founders, Maciej Szamborski and Wojciech Wilczak, and Syntaxis Capital, a private debt and growth capital investor.
POLFLAM is the leading fire-resistant glass manufacturer in Poland, as well as a successful challenger on other European markets, with a constantly growing share of export sales. Unique proprietary technology and hard to replicate production process provide the Company with a sustainable cost advantage and best-in-class product qualities. The Company’s experience and professionalism are backed up by thousands of successful installations all over Europe. POLFLAM cooperates with producers of aluminium, steel and wooden frames and system providers, as well as with architects, construction engineers, and developers. In mid-2014 the founders completed a leveraged recapitalization of the Company, funded entirely by Syntaxis Capital, which has now exited its investment.
Baltisse, a family owned and entrepreneurial investment fund with interests in various fields such as direct investments (private equity), real estate (development) in Belgium, Luxemburg, Romania, and the US, asset management, and in the floor covering sector via a stake in Mohawk Industries (US) completed the acquisition of Poliflam. In its direct investments, Baltisse aims to support companies with a good track record and good prospects through capital and management with an operational ‘mindset’ in its ambitions for operational excellence and commercial success. Baltisse’s strategy is long term, from its conviction that through investment in people and by providing them with the required means, value creation is possible for all stakeholders.
Mr Wojciech Wilczak said: We are delighted to reach an agreement with Baltisse and to find a new home for POLFLAM. The Company has achieved unprecedented success in a traditional industry with its innovative proprietary technology, superior product, and client-oriented philosophy. I would also like to thank Syntaxis Capital for their fruitful cooperation and strong support during the last four years, which were transformational for the business.
Filip Balcaen, the principal of Baltisse, said: The POLFLAM success story in the Fire Resistant Glass segment is very appealing to us, as it is based on a strong technological and manufacturing platform, whereby POLFLAM is able to provide customers with an excellent product at a competitive price. Based on our industrial experience, having built companies that were leading European flooring manufacturers, we are convinced that we can support POLFLAM to strengthen its position in its existing markets and to expand into new geographies within the EU.