BUCHAREST (Romania), August 16 (SeeNews) - Austrian producer of plastic composite materials sports activities Isosport acquired Polish plastics specialist Novo Tech's factory in Oradea, in western Romania, deal advisor Nestor Nestor Diculescu Kingston Petersen (NNDKP) said on Tuesday.
Through the acquisition, Isosport is strengthening its leading role as a market leader and industry specialist, through a growth strategy oriented towards business diversification and the successful identification and expansion of niche markets, NNDKP said in a press release.
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The price of the transaction was not disclosed.
Novo Tech Group operates the factory in Oradea through Grass Tech SRL, data from the finance ministry showed. It employed 91 at the end of 2021.
Isosport announced on July 1 that it is acquiring Novo Tech Group's two production sites in Poland and Romania as well as a sales office in Belgium from Avallon MBO Fund II.
"With the acquisition of Novo Tech, we are further expanding our portfolio and tapping into new markets. Together with our now 750 employees, we will be in a position to offer our customers an even greater product variety," Isosport managing director Karl Mad said at the time.
Novo Tech’s products range from spray suppression flaps for commercial vehicles, entrance and door mats, artificial surfaces such as grass and snow for the sports industry to matting for poultry breeding.
Part of privately managed international industrial corporation Constantia Industries AG, Isosport produces plastic composite materials for the ski and snowboard industry as well as films, sandwich panels, fiber composites, and tennis strings. The company is headquartered in Eisenstadt, Austria where it also operates a production site. A second production site is located in Slovenske Konjice, Slovenia.