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SergeFerrari Group acquires Verseidag-Indutex
The SergeFerraru Group strengthening its global leader position in Tensile Architecture and Modular Structures.
The Group announces the acquisition of Verseidag-Indutex from Jagenberg AG, for an undisclosed amount. It thus strengthens its position as the world leader in flexible composite materials for the Tensile Architecture and Modular Structures markets. With this acquisition, the Group also becomes a key player in the field of non-combustible solutions.
Sébastien Ferrari, SergeFerrari Group Chairman and CEO:
“For SergeFerrari Group, the acquisition of Verseidag-Indutex is a key and transforming step in its growth momentum, and structuring in its international development as well as in its innovation strategy. We are extremely proud of it, as the acquisition of Verseidag-Indutex enables the Group to become the undisputed global leader in two of our strategic market segments: Tensile Architecture and Modular Structures. The acquisition of Verseidag, an iconic brand and leading company recognized worldwide, is completely in line with our selected acquisition strategy, to strengthen our commercial, product and technological bases.”
Verseidag-Indutex, world leader in PTFE glass materials
Located in Krefeld, Germany, Verseidag-Indutex, world leader in PTFE glass materials, operates on the markets of Tensile Architecture and Modular Structures markets. Verseidag-Indutex also operates in the sectors of Industrial, Biogas, Large Format Digital Printing, Solar Protection for Building and Automotive industry. Verseidag-Indutex currently employs close to 250 people located on its four industrial sites in and around Krefeld, and has sales subsidiaries in four geographical areas: in Europe, including Germany, which is the largest European market, in the United States, the Middle East and Hong Kong. Verseidag-Indutex and the acquired companies generated consolidated revenues of €72 million in 2019.
As part of this acquisition and according to the terms of the signed agreement, Mr. Jan Kleinewefers, main shareholder of Jagenberg, will be co-opted to the Board of Directors of SergeFerrari Group and Dr. Erich Bröker, CEO of Jagenberg, will become a member of the Strategic Committee of Verseidag-Indutex.
Dr Erich Bröker, CEO of Jagenberg AG:
“Based on the extensive investments during the last ten years in the development of technologies, innovative products and know-how, the industrial logic of combining these two premium suppliers was that convincing that we were prepared to sell our subsidiary Verseidag- Indutex. The newly created Group of companies opens up growth perspectives that neither of them could have achieved on their own.”
Markus Simon, CEO of Verseidag-Indutex:
“The product ranges and production-related synergies will provide us with great advantages in the future. Furthermore, the unwavering and long-standing commitment of the teams of both our companies to continuously offer their customers innovative product solutions with the highest quality standards fits together remarkably well.”
Sébastien Baril, Marketing and Digital Transformation Director of SergeFerrari Group:
“This acquisition will strengthen the Group’s fundamentals. It also reinforces our position in the very attractive market for innovative non-combustible solutions and allows us to expand our product portfolio with, for example, larger production widths or environmentally friendly coating techniques that present great development potential. The highly complementary nature of the product ranges, business expertise and geographical footprint of our two companies is a definite step forward for the Group.”
Sébastien Baril will have the responsibility of the integration of the Verseidag-Indutex Group into the new Group thus formed.