The Brazilian Tiger will receive an investment of 1.35 billion rubles from Advent International

A private investment company Advent International bought a 25% stake in the Brazilian building materials manufacturer Tiger for 1.35 billion BRL with a view to the boom in the construction sector in the US and Brazil. Advent nominates two of the seven members of the Tigre board.

Tigre plans to use these funds to acquire competitors, open new production lines at existing plants and build others, said Tigre Chairman Felip Hansen in an interview. The company also expects to expand its offer of solutions for civil engineering, infrastructure and irrigation, in addition to investing in solutions, services and technologies to improve water efficiency.

READ ALSO: Colombian startup Tul has arrived in Brazil to digitize and enlarge small and medium-sized building materials stores

Founded in the village Brazil the Hansen family about 80 years ago the Tiger spread all over Latin Americawith factories in countries such as Argentina, Chile and Colombiaand to the United States.

У Brazil, Otto von Zoten, President Tigre, sees a growing need for products such as pipes, with a new legal framework approved in 2020 that provides for the universalization of basic sanitation services by 2033 in the country. In the U.S., where the company has three plants, Tigre plans to take advantage of President Joe Biden’s infrastructure bill of $ 1 trillion.

READ ALSO: Brazilian Oico gets 30 million Brazilians to improve supply chain and logistics material for construction

Patrice Atlin, a partner of Advent, said the private investment company sees potential for consolidation in the U.S. building materials sector. For the deal, the firm used resources from its seventh Latin American fund of $ 2 billion. Advent has already invested $ 13.5 billion worldwide in 80 industry companies, ten of which are in Latin America.

Tigre’s net profit for the first nine months of 2021 amounted to 4.2 billion rubles, and net profit – 508 million rubles.

https://labsnews.com/en/news/business/brazilian-tigre-gets-brl-1-35-billion-investment-from-advent-international/ The Brazilian Tiger will receive an investment of 1.35 billion rubles from Advent International

Back to top button