Two private equity groups have sold German vinyl window and door maker Profine International Profile Group GmbH to Manama, Bahrain-based investment firm Arcapita Bank B.S.C.
The parties did not disclose terms of the deal, but several European publications have reported the sale amount was $1.04 billion.
Profine, the only operating unit of parent HT Troplast AG of Troisdorf, Germany, oversees a group of building-product brands, including KÃ¶mmerling, which extrudes PVC trim and sheet.
Carlyle Group of Washington, which owned 55 percent of HT Troplast, and Boston-based Advent International Corp., which owned the rest, had bought the company in January 2005.
Advent spokeswoman Claudia Werth said Profine had ``developed far better than expected within a short period of time.''
The timing seemed right for the sale, she said by phone.
Paul Harris, with London-based consulting firm Tulchan Communications Group, said it is too early to offer any forward-looking statements regarding what Arcapita might do with Profine.
KÃ¶mmerling President Patrick Slarko also declined to comment.
The Profine deal represents Arcapita's third major recent investment in the building materials industry, Harris said in a telephone interview.
Last summer, Arcapita bought Atlanta-based soil-reinforcement specialist Tensar Corp. for $405 million and Stockholm, Sweden-based insulation maker Paroc Group for about $840 million.
``It's an attractive business,'' Harris said of Profine. ``We have a lot of experience, which we can touch on in taking things into new markets and expanding into them.
``We really think we can utilize the skill sets that we've already got in those areas and apply it to Profine with hopefully good results.''