In 2000, "Alfa Finance Holding" AD acquired the controlling stake of "Kaolin" AD - a mining company with over 90 years of history. Over the next thirteen years, under the management of "Alfa Finance Holding" AD and after five international acquisitions and multiple green field projects, "Kaolin" grew from a company of local importance to a regional leader in the industrial minerals sector with mining and production facilities in four countries and sales distribution in 36 countries in Europe, Asia and Africa. “Kaolin” AD was developed to the status of:
- the largest producer of quartz sand in Southeast Europe
- the fourth largest producer of sands in Europe
- the largest producer of kaolin in Southeast Europe
- managing one percent of the world reserves of kaolin raw material
- the second largest producer of chamotte in Europe
In 2003 "Kaolin" completed its first cross-border acquisition - "Serboqwartz" and "Kopovi", Serbia. Five years later - in 2007 was successfully completed the Initial Public Offering (IPO) of shares of "Kaolin" AD on the Bulgarian Stock Exchange. The conversion of "Kaolin" into a public company represents an important step in the development strategy of "Alfa Finance Holding". The same year "Kaolin" completed its first investment in Ukraine - the acquisition of the majority share in "PKSP". In 2009 officially opened Kaolin's factory for quartz sand enrichment in Ukraine. The international expansion continued with acquisitions in Albania in 2008 and in Serbia in 2011 ("Dolna Bela Reka").
In 2013, "Alfa Finance Holding" successfully closed the transaction for the sale of Kaolin's majority share package to one of the leading investors in the sector - Quartzwerke GmbH (Germany).