Sioen Industries acquires Dimension-Polyant
Sioen Industries and Gamma Holding BV (backed by financial sponsors Gilde Buy Out Partners and Parcom Capital Management BV) have agreed today on the purchase by Sioen Industries of 100% of the shares of Dimension-Polyant.
Dimension-Polyant, established in 1966, is the world market leader in sailcloth manufacturing with a global market share of more than 40%. Being the only vertically integrated manufacturer in the world (weaving, finishing and laminating) the company is in a unique position to deliver solid growth in its core business while continuing to expand in the field of diversified technical fabrics. Sioen Industries and Dimension-Polyant have complementary technologies and will, by sharing know-how, create future synergies.
Dimension-Polyant’s comprehensive product lines deliver high quality sailcloth fabrics including woven performance materials, multi-use laminates and sail membrane components, as well as diversified technical fabrics for industrial and outdoor applications. The sailcloth range includes precision designed fabrics for inshore racing, high tenacity woven styles for offshore cruising, multiple laminates for cruising and racing applications, innovative spinnaker fabrics providing unmatched tear and stretch resistance, and innovative windsurf and kite materials that are the leading edge of the sailcloth market. The technical fabric lines cover a wide range of outdoor sports and industrial products.
Both Sioen and Dimension-Polyant are considered to be the leaders and gold standards in quality and innovation in core markets. Dimension-Polyant has a global footprint with two manufacturing facilities (Kempen – Germany and Putnam, Connecticut – USA) and several sales offices (France, UK and Australia), geographically close to its customer base. It has been agreed that the acquisition will take retroactive effect as of 1st January, 2016.
Dimension-Polyant’s budgeted sales for 2016 will be approximately 38 million Euro and 2016 budgeted EBITDA is estimated at 5.7 million Euro.
For further information:
Sioen Industries – Fabriekstraat 23, 8850 Ardooie, Belgium. G. Asselman, CFO and Investor relations – Tel. + 32 (0) 51 740 900