3i, Europe’s leading private equity company, has joined forces with the existing management team to acquire Bowater Building Products Group from a consortium of other private equity investors.

In a transaction valued at £52 million, 3i has acquired a majority stake in the £180 million turnover Bowater Building Products Group of companies and brands, which include WHS Halo, The Prime Connection, James Harcourt, Zenith and Staybrite.

3i acquired the business from the previous private equity investors, which included DLJ Capital Funding Inc and Legal and General Ventures Ltd. as part of a ‘secondary buyout’’.

Source

Glass Age