The Serge Ferrari Group announces that it has concluded a final agreement with the Jagenberg Group for the acquisition of Verseidag-Indutex, thus strengthening its global positioning in the fast-growing market of flexible composite 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 and solar protection for the 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.
Sébastien Ferrari, SergeFerrari group chairman and CEO, comments: “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 recognised worldwide, is completely in line with our selected acquisition strategy, to strengthen our commercial, product and technological bases.”
Erich Bröker, CEO of Jagenberg AG, added: “Based on the extensive investments during the last 10 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.”
This transforming acquisition enables SergeFerrari Group to strengthen its international leadership and strategic positioning within two of its four priority business segments. It is consistent with its external growth strategy aimed at integrating complementary companies in terms of sales networks, products and technology on its priority business segments. It follows, in the first half of 2020, the acquisition of a majority stake in the capital structure of F.I.T. in Taiwan, a designer, manufacturer and distributor of high-tech non-combustible materials, thus creating a leading global player of non-combustible solutions.
This acquisition will allow to generate significant synergies in the future, as the activities of SergeFerrari Group and Verseidag-Indutex are highly complementary in terms of product ranges, sales networks, marketing and manufacturing. Verseidag-Indutex’s strong position in PTFE glass materials for Tensile Architecture and Modular Structures in particular, in combination with Serge Ferrari's unique proprietary Précontraint® technology, will enable the Group to develop a very complete and diversified commercial offer. In addition, the Verseidag-Indutex product range will strengthen the Group's position in new segments such as Large Format Digital Printing, Solar Protection for Building and Automotive industry. The plan is to continue to develop both the Verseidag brand and those of the SergeFerrari Group, which already enjoy a high level of recognition.
Markus Simon, CEO of Verseidag-Indutex GmbH added: “The product ranges and production-related synergies will provide us with great advantages in the future. Furthermore, the long-standing commitment of both companies to continuously offer its customers innovative product solutions with the highest quality standards, fits together remarkably well.”
Sébastien Baril, Marketing and Digital Transformation Director of SergeFerrari Group, will have the responsibility of the integration of the Verseidag-Indutex Group into the new Group thus formed. He concluded: “This acquisition will strengthen the Group's fundamentals. It also reinforces our position in the very attractive market for innovative non-combustible solution 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.”