Parafix Hungaria Kft has successfully completed a management buyout, with the acquisition of the shareholding from holding company Parafix Europe Ltd.
Led by directors David Krasznay and Robert Farago, the purchase is supported by investment partners Hiventures Capital Fund and MFB Bank selected for their reputation for assisting high growth businesses in developing markets and regions. Therefore, the move allows both Parafix Hungaria Kft, and Parafix Tapes and Conversions Ltd to further focus on their core businesses.
Mike Punter will remain involved in an advisory capacity, providing continuity for employees, customers and suppliers alike. Mike commented: “The remarkable growth of this company has in truth been the result of David and Robert’s dedication and hard work, and therefore the time is right for them to take the next logical step of further developing their involvement and enjoy the benefits and challenges of ownership. It was also important to me that all the loyal customers of Parafix be unaffected and the MBO ensures a smooth transition, with normal service and lines of communication remaining unchanged.”
Both Parafix businesses continue to convert and distribute adhesive and other flexible materials, in Healthcare, Electronics, Automotive and Industrial applications worldwide.