FibrXL – a Dutch and US-based distributor and converter of High Tenacity Yarns – announces the acquisition of Eurotexfilati SRL in Italy.
The transaction is in line with FibrXL’s strategic plan to become the largest worldwide high-tenacity fibre distribution platform.
Almere, 8 May 2023 – Eurotexfilati, founded in 1975, generates medium and High Tenacity synthetic fibres for various applications in the industrial market as well as for textile purposes. The company is headquartered in Dro, Italy, and has a subsidiary office in Istanbul, Turkey. Eurotexfilati is a converter and distributor of yarns and plays a key role in the value chain of fiber waste recycling. It serves clients mainly in Italy, Spain, Turkey, and the Baltics of products that are sourced across the globe. Eurotexfilati will become part of the FibrXL Group, which will lead to a total estimated revenue of over EUR 115 million with in total of 97 FTE.
With this acquisition, FibrXL strengthens its position in the many-to-many market while it remains eager to expand its footprint across the markets it serves. The combination benefits from scale and scope in procurement and sales toward existing and new clients. FibrXL expects to complete this transaction before the end of June 2023.
FibrXL is a Dutch-based distributor and converter of High Tenacity yarns such as polyester, polyamide, Dyneema®, Prisma™, Twaron, and Technora for various industrial applications in Europe, Africa, and North America. The synthetic yarns hold specific properties and are used in offshore-, automotive- and geotextile industries, as well as the packaging, strapping-, rope- and net industries.
Strategy going forward
Over the coming years, FibrXL expects to further accelerate growth through a combination of strategic focus on High Tenacity yarns, geographical expansion, and targeted bolt-on acquisitions. FibrXL is the market leader in its core markets and optimally positioned to benefit from the strong growth in the market for both premium yarns, such as Dyneema® and Twaron, and High Tenacity yarns, such as polyester and polyamide. In addition, plans for the roll-out of warehouses and offices in strategic locations are ready to be deployed. Lastly, there still exist several opportunities for bolt-on acquisitions in both Europe and North America.
Management
Jeroen Drenth, CEO of the FibrXL Group, states: “Eurotexfilati is a very much welcome add-on to our group, led by a strong management team supported by a team of highly skilled staff with a deep knowledge of the market and end-users they serve. As such, Eurotexfilati will be able to make a difference and offer value add to our clients in Europe and the Middle East. For FibrXL, this is only the beginning; we are determined to expand our footprint organically and through acquisitions”. Walter Perini, Chairman of Eurotexfilati, stated: “We are ready to take the next step as part of FibrXL, for us they are the ideal partner to help us grow and use the expertise and scale to become a more dominant player in EMEA”. Walter Perini and Gianluca Zanivan will remain as management of FibrXL Italy Srl and will further contribute to the growth of FibrXL.
About FibrXL
FibrXL is a leading distributor of High Tenacity yarns, such as polyester, polyamide, Aramid, and Synthetic continuous filament yarns that are used in ropes, strappings, and fabrics. Over the last twenty-five years, FibrXL has become the leading distributor of industrial yarns in Europe, Africa, and North America. The company serves over a thousand customers yearly through its network of branch offices and warehouses strategically placed over three continents. It plays an important role in a many-to-many market, connecting fibre producers to a wide array of product manufacturers serving a variety of end markets. FibrXL’s customer-oriented distribution model is underpinned by its strong focus on competitive pricing, fast deliveries, and extensive yet balanced stocks. FibrXL is a portfolio company of Active Capital Company.