Advance Capital announces the completion of the sale of Pilkington Glass and STiS Group

27 Jun
/ 2023

Advance Capital is pleased to announce the completion of the sale of the Japanese NSG Group assets in Russia, including the Pilkington Glass plant and STiS Group. The buyer was FSK Group.

Pilkington Glass is one of the largest flat glass factories in Russia. It is a subsidiary of Pilkington, a pioneer in the production of sheet glass for windows and facades, and since 2006, part of the Japanese corporation NSG Group. In Russia the business is represented by a plant in Ramenskoye (Moscow region) with a production capacity of approx. 800 tons of sheet glass per day.

STiS Group is one of the largest Russian manufacturers of double-glazed windows and specialized glass products under its own brand, which includes eight production sites in eight cities of Russia.

The deal with a strategic investor will contribute to scaling up the experience of two major players in the industry and to the development of the glass industry in Russia in general.

The Pilkington Glass glassworks continues its activities under the Larta Glass brand, and the STiS Group continues its activities in the glass unit production market under its current brand.

Advance Capital acted as the seller's exclusive financial advisor during the transaction.

The amount of the transaction is not disclosed.


Maxim Malikov, CEO of Pilkington Glass

“Combining factories under one brand will allow us to scale up the experience of two major players in the glass industry and develop glass production in Russia.”

Alexey Lyashko, CEO of STiS Group

“We are very pleased to see FSK as a buyer who has strategic synergies with our existing business, similar values and the potential to enhance operational capabilities.”

Artur Shubaev, Executive Director of Advance Capital:

“We were delighted to be part of such a landmark deal for the Russian glass market and the building materials market in general. We are confident that the transaction will be favorable for both the buyer and the acquired company and will allow achieving significant synergies.”


FSK Group

FSK Group of Companies is one of the largest development companies with its objects presented in Moscow, St. Petersburg, Moscow, Leningrad, Kaluga regions and the Krasnodar region. The main direction of its activity is the construction of housing (comfort and business class), commercial real estate, transport and social infrastructure. In 2022, the Russian rating agency ACRA confirmed the A- (RU) credit rating of FSK Group with a stable outlook. The Group's revenue for 2022 amounted to more than 174 billion rubles, which is comparable to the previous year.

Larta Glass

Larta Glass is one of the largest manufacturers of sheet glass, coated glass and mirrors in the CIS countries. The company's two plants are among the most modern flat glass production facilities with a nominal production capacity of 750 tons of glass per day at the plant in Ryazan and 900 tons of glass per day in the Rostov region.

Pilkington Glass

Pilkington is a global manufacturer of glass for windows and facades, founded in 1826 in the UK and since 2006 part of the NSG Group. The Russian company Pilkington Glass in Ramenskoye, Moscow Region, has been operating since 2006 with a nominal capacity of 800 tons of glass per day. The plant annually produces 10 million square meters of glass with low-emission and multifunctional highly selective coatings for the architectural and window markets, including products of our own design, which have no analogues in the Pilkington (NSG Group) product portfolio.

The company's products are supplied to 130 cities of Russia and exported to world markets. The Pilkington Glass portfolio includes more than 4,000 major architectural objects around the world. Among them are the Platov airport in Rostov-on-Don, the Federation Tower in Moscow City, the Al Ain hospital in Abu Dhabi, the Zeev Shalom Center industrial park in Israel, the Water Sports Palace in Dushanbe, the Nuevos Horizontes business center in San Pedro Sula.

STiS Group

Founded in 1999 in Saratov, the STiS Group of Companies is one of the largest developers and manufacturers of double-glazed windows for window and architectural areas in Russia and the CIS. The range of the company is represented by double-glazed windows for windows and facades with heat-saving, sun-protection and noise-insulating properties.

The STiS group of companies includes 8 production sites for the manufacture of double-glazed windows and specialized glass products - in Serpukhov, Vladimir, Saratov, Naberezhnye Chelny, Krasnodar, Stavropol, Voronezh and St. Petersburg.


News about the sale in the media:


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