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SergeFerrari Group Acquires Verseidag-Indutex to Consolidate Position in Non-Combustible Solutions
Monday 03 August 2020

France-based composite materials manufacturer SergeFerrari Group (Paris: SEFER) (FR0011950682: SEFER) has announced the acquisition of Germany based PTFE glass materials manufacturer Verseidag-Indutex from Jagenberg AG, to strengthen position in tensile architecture and modular solutions, the company said.

Verseidag-Indutex was acquired for an undisclosed amount.

Under the terms of the operation, SergeFerrari Group acquired 100% of the shares of Verseidag-Indutex and of the companies Verseidag Seemee US and Cubutex GmbH and 60% of DBDS Deutsche Biogas Dachsysteme GmbH, in return for a cash payment in two instalments (one at closing, the other in 2021), a payment in SergeFerrari Group shares also in two instalments (one in 2021, the other in 2022) and an earn-out to be paid in 2023, indexed to the EBITDA growth.

In order to finance its external growth operations, the 2020-2022 investment and development programme, and to refinance its existing debt, SergeFerrari Group has entered into credit agreements with its banks for EUR 75m (USD 87.8m) , as well as financing with Euro PP lenders (bond format) for EUR 20 m, which can be increased to EUR 30m (USD 35m).

The transaction positions SergeFerrari as a key player in the field of non-combustible solutions.

Verseidag-Indutex's position in PTFE glass materials for Tensile Architecture and Modular Structures, in combination with Serge Ferrari's Précontraint technology, will enable the Group to develop a complete and diversified commercial offer.

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.

Serge Ferrari Group designs, develops, and manufactures innovative composite fabrics for lightweight architectural and outdoor applications

JAGENBERG Verseidag-Indutex operates in the sectors of Industrial, Biogas, Large Format Digital Printing, Solar Protection for Building and Automotive industry.

Jagenberg AG, part of the Kleinewefers Group and headquartered in Krefeld, Germany, is a management holding company active in the mechanical engineering and technical textiles sectors.
Date Published: 03/08/2020