With the closing of transaction on 31 March, Kansai Paint Co., Ltd. acquired all shares of European coating manufacturer Helios Group. Under the strategic owner Kansai, Helios will represent a strong European center of innovation, know-how and business development, and will further grow its importance in European coating industry.
Kansai Paint Co., Ltd. signed the Share Purchase Agreement to acquire all shares of European coating manufacturer Helios Group in December 6, 2016. After the anti-trust clearance in relevant countries and the satisfaction of other closing conditions, Kansai became the owner of Helios Group with the closing of transaction on 31 March. Kansai Paint therefore accelerates its growth strategy to become one of top three paint producers in the world.
Helios Group is a coating manufacturer with strength in different types of coatings and mainly operates in Central, Eastern, Western Europe and CIS countries. Therefore, a successful acquisition provides Kansai Paint with a foothold for full-scale expansion into Europe. The company aims to expedite business growth by boosting sales further and creating synergies through the utilization of both groups' technologies, know-how, products and sales networks.
David Kubala, one of the two CEO's of Helios Group: "Helios already has the sales network in European markets, with its numerous trusted brand names. We hold a strong position in industrial, car refinish and decorative coating segments. Our portfolio is similar and in some cases complementary to Kansai Paint's. Kansai has a strong commitment to R&D and innovations and Helios obtains efficient production, strong R&D department with well-skilled people and advanced equipment. For all these reasons amongst others, Helios is the right company for Kansai to expand and develop business in Europe. We expect many synergies in R&D, in production systems and technologies, support systems, marketing, procurement and other areas. Helios will also introduce new products and have the possibility to export to Asian and African markets, as well as to serve Japanese customers in Europe."
Before the acquisition of Helios, Kansai already had a strong presence in Asia, Africa and Middle East but very limited in Europe. The purchase of Helios Group was made with a purpose to develop and expand the coating business and to increase presence across the Europe. From now on, Kansai will continue to strengthen its position as one of the biggest and premier coating companies, also with Helios brands under its umbrella.
For further information: www.helios-group.eu