BRAVO International Group to continue its growth story under new ownership

EMSA Capital is proud to announce its exit from Bravo International Group.

The CEE Special Situations Fund, managed by EMSA Capital, is exiting its participation in Bravo International Group following a double transaction with Metal Trade Comax a.s. and its founder and co-shareholder Adrian Minuță. This transaction marks the full exit of EMSA Capital after more than a decade of partnership and transformational growth.

In the first step of

the transaction, Bravo Holding is divesting its subsidiaries in the Czech Republic and Germany to Metal Trade Comax a.s., a leading Czech industrial group specializing in coated metal process

ing. These two companies will join Metal Trade Comax’s expanding portfolio in the roofing and construction materials sector.

Concomitant to this divestment, EMSA Capital will sell its entire stake in Bravo Holding directly to the company’s founder and long-standing CEO, Adrian Minuță.

As a result of this sequence of transactions, the Bravo Group will be separated into two independent groups:

• Bravo Czech and Bravo Germany will operate under Metal Trade Comax, to continue DIY market presence and supporting the group’s strategy to strengthen its roofing systems division.
• Bravo International Group – comprising Bravo International Romania, Bravo International France, and Bravo International USA – will continue under the full ownership and leadership of Adrian Minuță, maintaining its operations and development strategy.

Although the companies will operate independently, Bravo International Group and Metal Trade Comax have agreed to maintain a long-term strategic partnership to ensure continuity in commercial collaboration, product development, and supply chain efficiency.

Matej Kosturak, CEO of Metal Trade Comax, commented: “With Bravo’s expertise in roofing specifically within the DIY segment and its strong position in the European market, we aim to further expand our roofing product portfolio. Our goal is to make roofing the key pillar of our group and drive continued growth in the industry.”

Adrian Minuta, who will continue to manage Bravo International Group under the new structure, stated: “The new structure is based on common vision and a strong strategic

partnership between the new owners. Bravo International Group will continue its growth across European Markets and the US, to support both groups’ development.”

EMSA Capital invested in Bravo in 2013 to replace senior banks and re-capitalize its balance sheet to support its growth in Western Europe. Tomas Holly, the Managing Director of EMSA Capital explains: “Bravo is essentially the company who introduced metal roofing products into DIY chains by designing system solutions to allow non-professionals to do simple installations by themselves.”

He adds: “In an environment of ever-increasing cost of experienced installers of the last decade, Bravo was able to grow its sales 5-fold, from EUR 13m in 2013 to over EUR 60m currently, under the leadership of the CEO Adrian Minuta.”

Clairfield International Austria, led by Berend Yntema, served as the M&A transaction adviser. CMS Reich-Rohrwig Heinz led by Dr. Martin Zuffer served as legal adviser.

About Bravo International Group

Bravo International Group is a leading supplier of European DIY chains in metal roofing and water collection systems, as well as a broad range of accessories. It has a strong presence across 20+ European countries, supplying 3,100+ outlets, including 7 of the top 10 DIY chains in Europe. Bravo employs over 250 employees across its production sites in Romania, Czech Republic, Germany and France. For more details, please access: www.bravointernational.group

About Metal Trade Comax

Czech Republic-based Metal Trade Comax is a leading player in the Central European coated metal processing sector, serving both industrial and construction industries across the region. Metal Trade Comax leverages 30 years of experience in sheet metal processing and is building a strong metallurgical group with a high-quality portfolio that benefits from mutual synergy. For more details, please access: www.mtcomax.cz/

About EMSA Capital

EMSA Capital is a private equity firm investing in underperforming, distressed and other special situation companies across Central and Eastern Europe. EMSA Capital professionals take an active role in the portfolio investments in order to improve their performance for the benefit of shareholders and other stakeholders. They create value by effectively applying their tested and successful restructuring and performance improvement methods. For more information, please visit www.emsacap.com.