EII will steer the market expansion of Caparol, throughout the Middle East and North Africa. “We now have a strong emphasis on bringing products and technologies to local markets,” a Caparol spokesman tells MEED. The value of the deal has not been disclosed. It is expected to be completed in the next six to eight weeks.

Caparol, headquartered in Ober-Ramstadt, Germany, has an annual turnover of €1bn ($1.5bn). The company’s Dubai operation was established in 1998.