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Sofina acquires approx 25 % of Drylock's share capital

16 Aug '19

2 min read

Pic: Drylock Technologies

Drylock Technologies, a family-owned hygiene manufacturer, has opened its capital to Sofina, a Belgian family run and controlled investment company. Sofina acquires approximately 25 per cent of the share capital by subscribing to a capital increase. The funds will help Drylock grow and roll out its technological and patented product portfolio.

The funds will be attributed to support the business plan of Drylock. Bart Van Malderen will remain the majority shareholder as well as chairman and CEO.

Harold Boël, CEO of Sofina stated, “We were impressed by the speed and success of Drylock Technologies so far. The entrepreneurial spirit, the state-of-the-art production platform with a global presence, the portfolio of sustainable products, the healthy and promising customer mix, and our meetings with the Drylock team have all contributed to convince us of this investment’s merits. Drylock fits in our strategy of investing in growing businesses with a partner that also believes in the virtues of patience and entrepreneurship. We are looking forward to collaborate with Drylock’s management and to contribute to its success.”

Bart Van Malderen, CEO Drylock Technologies, said: “In the past seven years we have been growing and building Drylock at an incredible fast pace. As such we have commissioned four plants from scratch, acquired five others in Russia, Italy, North America and Brazil, whilst leading product innovations with proprietary technology such as the fluffless and channel technology. Today we have a platform that allows us to continuously and rapidly further expand our business and I am pleased to welcome Sofina in supporting the further roll-out of our business plan.” (SV)

Fibre2Fashion News Desk – India