Businessman Daniel Guzu, founder of varnish and paint business Fabryo (formerly Guzu Chim), which was sold to Swedish private equity fund Oresa, has decided to return to the paint market with the Duraziv brand this year, in which he will invest one million euros in a first stage.
Guzu comes back to the market where he was present for 14 years, until the end of 2008, when he exited the Fabryo business. Guzu together with his wife collected around 20 million euros in several stages from selling shares held in Fabryo, with a portion of the money being invested in metal profiles and adhesives producer Duraziv.
The businessman was not allowed to enter the paint market for a year because of a non-competition clause in the contract with Oresa Ventures investment fund, which expired in February this year.
After the clause expired, Guzu decided to return to the paint market with the Duraziv brand, and is set to compete with Fabryo, which last year became the biggest player on the varnish and decorative paint market, with 35.4 million euros in business.
Businessman Daniel Guzu, founder of varnish and paint business Fabryo (formerly Guzu Chim), which was sold to Swedish private equity fund Oresa, has decided to return to the paint market with the Duraziv brand this year, in which he will invest one million euros in a first stage.
Guzu comes back to the market where he was present for 14 years, until the end of 2008, when he exited the Fabryo business. Guzu together with his wife collected around 20 million euros in several stages from selling shares held in Fabryo, with a portion of the money being invested in metal profiles and adhesives producer Duraziv.
The businessman was not allowed to enter the paint market for a year because of a non-competition clause in the contract with Oresa Ventures investment fund, which expired in February this y
