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H.I.G Europe acquires Italian nonwovens firm Texbond

09 Sep '16

2 min read

H.I.G. Europe (“H.I.G.”), the European arm of global private equity firm H.I.G. Capital, has acquired a controlling interest in Texbond, a producer of specialty polypropylene nonwovens. Founded in Rovereto, Italy in 1988, Texbond specialises in nonwovens for specialty applications in the hygienic, medical, construction, and automotive industries.

With its continuous investment in R&D and a constant focus on process efficiency and innovation, Texbond is currently one of the leading European producers of artificial fibres with a leading position in the development and manufacture of specialty products.

The founder and chairman, Giuseppe Gaspari, and the CEO, Cristina Parisi, have invested in the transaction alongside H.I.G., providing management continuity as well as technical and strategic expertise to support the growth plans.

Raffaele Legnani, managing director and head of H.I.G. in Italy said, “We believe that Texbond is a unique player in the industry which can serve as a platform for a buy and build strategy at a global level, capitalising on H.I.G.'s international network and financial resources to support the development plan. Jonathan Bourget, senior advisor to H.I.G., with extensive experience in the industry, has also invested in the transaction and will assist us in scouting and analysing acquisition opportunities.”

Giuseppe Gaspari, chairman of Texbond said, “The partnership with H.I.G. represents an important milestone for the growth of Texbond that will allow us to expand our presence in Europe, which is a very fragmented market, and in the US. We believe that Texbond's technical expertise and its highly effective management team, led by the CEO Cristina Parisi, are an important competitive advantage.” (GK)

Fibre2Fashion News Desk – India