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Advance Capital is pleased to announce the sale of the Russian assets of Japan’s NSG Group, including the Pilkington Glass plant and the STiS Group of Companies. The buyer was the FSK Group.

Pilkington Glass is one of the largest flat glass manufacturers in Russia. The company is a subsidiary of Pilkington, a global leader in the production of glass for windows and facades, founded in the United Kingdom in 1826 and part of Japan’s NSG Group since 2006. In Russia, the business is represented by a manufacturing facility located in Ramenskoye (Moscow Region) with a nominal capacity of approximately 800 tonnes of flat glass per day.

The plant produces around 10 million square meters of glass annually, including low-emissivity and multifunctional high-selectivity coatings for architectural and window markets, as well as proprietary products with no direct analogues in the Pilkington (NSG Group) product portfolio. The company’s products are supplied to more than 130 cities across Russia and exported to international markets. Pilkington Glass has been involved in over 4,000 major architectural projects worldwide, including Platov Airport in Rostov-on-Don, the Federation Tower in Moscow City, Al Ain Hospital in Abu Dhabi, the Zeev Shalom Center industrial park in Israel, the Water Sports Palace in Dushanbe, and the Nuevos Horizontes business center in San Pedro Sula.

The STiS Group of Companies is one of Russia’s largest manufacturers of insulated glass units and specialized glass products under its own brand. Founded in 1999 in Saratov, STiS focuses on the development and production of insulated glass units for window and architectural applications with enhanced thermal insulation, solar control, and soundproofing properties. The group operates eight manufacturing sites located in Serpukhov, Vladimir, Saratov, Naberezhnye Chelny, Krasnodar, Stavropol, Voronezh, and Saint Petersburg.

Following the deal, the Pilkington Glass plant will continue operating under the Larta Glass brand, while STiS will continue to develop its insulated glass business under its existing brand. The transaction with a strategic investor creates a foundation for scaling the expertise of two major industry players and supports the further development of the glass industry in Russia.

The FSK Group is one of Russia’s largest real estate developers, with projects in Moscow, Saint Petersburg, the Moscow, Leningrad, and Kaluga regions, as well as Krasnodar Krai. Its core activities include the development of residential (comfort- and business-class) and commercial real estate, as well as transport and social infrastructure. In 2022, ACRA confirmed FSK Group’s credit rating at A- (RU) with a stable outlook. The group’s revenue for 2022 exceeded RUB174 billion.

Maxim Malikov, Chief Executive Officer at Pilkington Glass:

“The consolidation of production facilities under a single brand will allow us to scale the expertise of two major players in the glass industry and further develop glass manufacturing in Russia.”

Alexey Lyashko, Chief Executive Officer at STiS Group:

“We are pleased to see FSK Group as our buyer, given the strong strategic synergies with our business, shared values, and the potential to enhance operational capabilities.”

Artur Shubaev, Partner and Executive Director at Advance Capital:

“We are pleased to be part of this landmark deal for the Russian glass and building materials market. We are confident that the deal will be beneficial for both the buyer and the acquired companies and will enable the realization of significant synergies.”

Advance Capital acted as the exclusive financial advisor to NSG Group.

The deal value is not disclosed.