Bekaert Textiles acquired by German firm

Bekaert Textiles' headquarters in Waregem, Belgium
Bekaert Textiles’ headquarters in Waregem, Belgium
Mattress ticking supplier Bekaert Textiles, with world headquarters in Waregem, Belgium, was acquired from Gamma Holding by German private equity firm Franz Haniel & Cie. GmbH. Gamma Holding is owned by Utrecht, Netherlands-based Glide Buy Out Partners and Amsterdam-based Parcom Capital Management. Terms of the deal were not disclosed and the transaction, which had been subject to antitrust approval, closed June 8.

Bekaert has sales and production facilities in major markets across the globe and tallied sales in 2014 in excess of $222 million U.S. Core sales regions include Europe, the Americas and Asia-Pacific.

The company is the world’s largest ticking supplier and shows potential for long-term, sustainable growth and value creation, a news release said.

“As a family-equity company, (the acquisition of) Bekaert Textiles allows us a first but important step to diversify our current portfolio,” said Stephan Gemkow, Haniel chief executive officer. “We are delighted that the management welcomed our acquisition and want to continue the development of Bekaert Textiles’ business together with us.”

In commenting on the company’s new ownership, Dirk Vandeplancke, Bekaert Textiles chief executive officer said, “This shift in shareholders is good news for Bekaert Textiles’ employees and our customers, as this transaction fully supports our continued growth strategy and does not impact the company’s employees, nor its operations.”

This story was updated June 15, 2015.