The Japanese company Kansai Paint, which is the leading manufacturer of automotive, industrial, protective heat insulating and marine paints in Japan, purchased the Helios Group. According to the Finance journalists, the purchase price amounted to 572 million euros.
The Helios Group (Domžale) officials have reported that its former owners — Ring International Holding, Franklin Templeton and GSO — agreed with Kansai Paint the conditions of selling 100% shares of ownership.
Three years ago, the Austrian holding Ring International purchased the Helios Group for 145 million euros and integrated it into its Austrian paint manufacturer—the Rembrantin Company.
The Helios claims that the transfer of ownership rights will be completed within 2–3 months after the approval of the antitrust authorities. After that, the Group will become the leading European subsidiary of Kansai Paint.
The President of Kansai Paint Hiroshi Ishino has noted that the Helios is to become the leading centre for innovation in Europe, with high-tech knowledge and professional skills in production of various types of paints.
Japan’s company Kansai Paint specializes in the manufacture of paints for cars, industrial facilities, vessels and thermal insulation. Kansai Paint comprises 93 branches and 29 subsidiaries, which employ about 12,500 people. The total sales revenue makes 2.632 billion euros.