Dimontonate Floccati S.p.A. completes the majority stake acquisition of SwissFlock AG
Lucern, Switzerland – March 31st, 2021 – Today, Dimontonate Floccati S.p.A., an Italian company leader in the production of flocked materials, has agreed and completed the acquisition of SwissFlock AG - a Swiss company and the majority of Swiss flock International -China, specialized in the production of various types of flock fibers.
In more than 10 years of cooperation, Dimontonate Floccati has been the major Partner of SwissFlock, through the establishment of mutual distributions agreements and the major customer for flock fibers. The transaction will allow Dimontonate to further consolidate its flocked business worldwide through the acquisition of a relevant player operating in its reference sector, integrating and verticalizing production process and logistics. Furthermore, the acquisition of SwissFlock will allow Dimontonate to encounter significant production synergies, and it would enable the company to widen its geographical footprint by leveraging on SwissFlock's Chinese subsidiary. The newly combined entity will create the leading global group for flock materials in the automotive sector.
Dimontonate has been advised by KPMG, for the financial advisory and due diligence activities and by Giliberti Triscornia e Associati for legal advisory activities. BDO has advised SwissFlock as their sole financial and legal advisor.
Federico Rosa, CEO at Dimontonate Floccati said:
“This acquisition will strengthen Dimontonate’s position as one of the largest and vertically integrated manufacturers of flocked material in both Europe and globally. Both product portfolio and customer environment offer tremendous synergy potential. Furthermore, this acquisition will support Dimontonate’s growth and future development in the Asian market.”