AURELIUS sells TAVEX Europe to a Spanish consortium of investors
- TAVEX Europe after complex carve-out and successful reorientation by AURELIUS back on track
- Yet another successful exit for AURELIUS in 2016
Munich, May 17, 2016 – The AURELIUS group (ISIN DE000A0JK2A8) sells its stake in TAVEX Europe to a Spanish consortium of investors. The acquiring consortium will continue to support the restructuring measures implemented by AURELIUS upon acquisition in 2015 as well as the company’s expansion. The parties have agreed not to disclose the purchase price.
TAVEX Europe is headquartered in Bergara, Spain and develops, produces and distributes premium quality, sustainably developed denim fabric for major fashion brands in Europe. AURELIUS acquired TAVEX Europe in early 2015 and following a successful carve-out from Brazilian Grupo TAVEX successfully established it as a standalone company. During this period sustainable corporate structures, processes and costs structures, as well as various growth initiatives were introduced and have, to a large extent, already been implemented. One of these growth initiatives is the expansion of the product range through innovative fabrics in the area of comfort wear and ladies fashion. Furthermore, a variety of new products, especially for the central and northern European markets, have been developed.
“Benefiting from our experienced management as well as our AURELIUS Task Force, we have been able to establish TAVEX Europe as a dynamic, highly profitable company in the attractive and growing market for premium and innovative denim products”, says Dr Reinhard Dethloff, Vice President at AURELIUS and responsible for Tavex Europe.