Avallon Invests in Clovin- an Independent Cleaning Products Manufacturer and Plans a Dynamic Development of the Company
On October 29, Avallon MBO concluded a conditional agreement to acquire a majority stake in Clovin S.A.
A significant part of the shares will remain in the possession of the founders. The most important condition is to obtain the consent of UOKiK.
Joint plans of shareholders include, among others: continuation of the intensive investment programme initiated by the Company, extension of the portfolio of innovative and ecological products, and strengthening the position on the domestic and foreign market. In addition to organic growth, acquisitions in the cleaning segment are also planned.
Clovin was founded in 1995 as a family company. Initially, the company focused on the production of professional powders in the industrial segment (including hotels and hospitals). Gradually, household cleaning products (B2C) began to be introduced, and today they constitute the vast majority of the company's revenues. During twenty-four years of being on the market, the company opened its branches in Germany, Lithuania and set up a production plant in Ukraine.
Clovin currently employs over 230 people, its products reach over 25 countries on 5 continents, and revenues in 2018 amounted to PLN 111 million.
The Management Board of Clovin SA:
"We decided to cooperate with the Avallon Fund upon having outlined the development plans of the Clovin Group. The Fund's experience in conducting similar, significant investments, including investment in VELVET played an important role in our decision. Another crucial element was the Fund's understanding of the specifics of family businesses. "
Agnieszka Pakulska - Partner of the Avallon MBO Fund:
"The company operates on a growing yet highly competitive market dominated by big concern players. The company's products are in no way inferior to those of market leaders, while offering a good price-quality ratio. Together with the company's management, we will focus on building the company's brand strength in new sales segments both at home and abroad. The company has an innovative product portfolio, being in line with market trends, including washing capsules and ecological products. The common goal of shareholders is to maximize the company's potential. "
Information about the Clovin Group:
Clovin is a Polish family company founded in 1995 with a production plant in Czyżew and Ukraine. It produces the highest quality washing products (B2B, B2C). Its research and development departments prepare products formulas and recipes which follow environmentally friendly standards.
Among other awards, Clovin has received the statuette of Factory of the Year 2018 in the FMCG industry category, as well as Forbes Diamond 2018 and 2017.
Clovin Group brands include: Clever, MultiColor, Clovin Septon, Spiro, drPrakti, Washer, Signum, Purox.
For more information go to www.clovin.com.pl