Businessman Daniel Guzu, founder of varnish and paint businessFabryo (formerly Guzu Chim), which was sold to Swedish privateequity fund Oresa, has decided to return to the paint market withthe Duraziv brand this year, in which he will invest one millioneuros 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. Guzutogether with his wife collected around 20 million euros in severalstages from selling shares held in Fabryo, with a portion of themoney being invested in metal profiles and adhesives producerDuraziv.
The businessman was not allowed to enter the paint market for ayear because of a non-competition clause in the contract with OresaVentures investment fund, which expired in February this year.
After the clause expired, Guzu decided to return to the paintmarket with the Duraziv brand, and is set to compete with Fabryo,which last year became the biggest player on the varnish anddecorative paint market, with 35.4 million euros in business.
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