AURELIUS successfully closes the acquisition of the Tavex Group’s European operations
- Leading producer of denim fabrics for jeans production with headquarter in Spain and production facility in Morocco
- Focus on expanding the market presence and growing the customer base in Central and Northern Europe
- Ongoing optimization of production and supply chain processes will continue
- AURELIUS’s transaction pipeline remains well filled
Munich, May 4, 2015 – The AURELIUS Group (ISIN DE000A0JK2A8) closed the acquisition of the Tavex Group’s European operations on April 30, 2015. The acquired entity will produce high-quality denim fabrics for prestigious jeans manufacturers in Southern and Central Europe under the name Tavex Europe. In 2014, 580 employees generated revenues of EUR 45 million and considerably positive earnings before interest, taxes, depreciation, and amortization (EBITDA). The sale will enable the Brazilian parent company Tavex SA to focus on its core business in South America.
The main headquarters of Tavex’s European operations is in Bergara, Spain. The central logistics center is likewise located in Spain. The production facility is located in Settat, Morocco. It has a production capacity of more than 17,000 kilometers of fabric per year. The capacity utilization rate is currently very good.
The further development of Tavex Europe will entail a focus on expanding the market presence and customer base in Central and Northern Europe, as well as the further optimization and integration of production, maintenance and supply chain processes. The geographic proximity of the production facility in Morocco to the core markets of Southern and Central Europe and key customers in the high-end denim segment represents an ideal starting point for winning significant market shares on the strength of quality, services, and reaction speed. “The acquisition of the Tavex entities proves once again that the Europeanization of AURELIUS is the right strategy. Our international offices in London, Madrid, and Stockholm are increasingly contributing to our acquisition successes,” said Dr. Dirk Markus, Executive Board Chairman of AURELIUS. “We continue to see very brisk deal activity. 2015 will be an exciting year.”