European private equity firm Axa Private Equity has sold its shares in Gealan Beteiligungs GmbH to German investment fund Halder, which used to own the majority share package in the firm between 2002 and 2004. Gealan, which makes PVC windows, grew its turnover by almost 50 percent, to EUR 220 million last year, mainly due to international expansion.

“Following the new partnership, the Gealan management keeps its shares and the transaction should be finalized by the end of the first quarter of 2011, after the OK from the anti-trust authorities,” reads a release from Gealan Romania, the local subsidiary of the German company.

Halder plans to invest up to EUR 50 million in Gealan in the next years. Gealan Romania representatives were expecting a EUR 36.3 million turnover for last year, according to Romanian media.

editor@romania-insider.com