AURELIUS to successfully complete the acquisition of the EMEA Crafts business of market leader Coats Group plc
Munich, July 28, 2015 – The AURELIUS Group (ISIN DE000A0JK2A8) announces that the acquisition of the EMEA Crafts business of UK headquartered Coats Group plc, the world’s leading industrial thread and consumer textile crafts business, announced in the first quarter of 2015 will complete on 31 July 2015.
The Coats EMEA Crafts business is the leading supplier of textile craft products in Europe, with a history going back 250 years. The acquisition covers the headquarters in Germany and the warehouse and production facility in Hungary. With about 900 employees, the business generated revenues of USD 125 million in 18 European countries in 2014.
AURELIUS is experienced in conducting complex carve-out transactions and specializes in the acquisition of companies with operational improvement potential. AURELIUS’ experts will devote their full attention to the EMEA Crafts business and support the current management team in setting up the business as a flexible, independent entity. Besides implementing operational improvement measures, AURELIUS will focus on the long-term strategic direction of the Crafts business.
“We are delighted to be successfully completing this transaction. The pan-European positioning of Coats makes a very good fit with our business model. The AURELIUS team will now devote its full attention to the operational reorganization of the acquired unit, so that it is optimally configured for the future,” said Dr. Dirk Markus, Chairman of the Executive Board of AURELIUS AG. “In view of our well-filled transaction pipeline, we are very optimistic about our prospects for the remainder of the year. 2015 will be yet another successful year for the AURELIUS Group.”