Avallon buys NovoTech

Polish private equity fund Avallon has purchased NovoTech production plant from Indian Time Technoplast. According to unofficial reports, the transaction was valued at PLN 100 million, Puls Biznesu daily informed. If the value stands at PLN 100 million indeed, the deal is the biggest in the fund's history, the daily pointed out. Through the deal, Avallon will not only acquire the production plant in Poland but a stake in Time Technoplast's subsidiaries located in Romania and Belgium, too. NovoTech specializes in manufacturing of anti-spray flaps and some entrance mattings. Its factory is based in Kostrzyn by the Odra river.