Mattress fabric supplier BekaertDeslee, based in Waregem, Belgium, has purchased Montreal-based Maxime Knitting, accelerating what BekaertDeslee says is the company’s “growth ambitions in North America.” The companies did not disclose financial terms of the purchase.
Maxime Knitting will operate as a separate business unit within the BekaertDeslee North American organization and will continue to be led by Maxime Thériault, previously owner and president of Maxime Knitting. The acquisition will aid BekaertDeslee in its quest to offer “seamless service from ‘yarns to covers’ ” through production facilities in Canada, Mexico and the United States, according to a news release.
“With the North American mattress market already being the largest in the world, we are expecting the bedding industry to continue growing, mainly driven by the rise of sleep awareness, an accelerated development of boxed bed offerings and a shortening of the replacement cycle of mattresses,” the company said in the release.
Frédéric Beucher, BekaertDeslee chief executive officer, said, “We are very pleased to join forces with Maxime Knitting. They are the undisputed market leader in Canada in knitted mattress fabrics with recognized capacity for design and innovation.”
Maxime Thériault, general manager of what is now BekaertDeslee Maxime Canada, added: “This is an important step for our company, founded by my father, Denis Thériault, in 1985. Joining forces with BekaertDeslee will enable us to leverage their global footprint and scale, and jointly we will further optimize our operational excellence while maintaining our entrepreneurial spirit and customer centricity.”
Bowker Capital advised Maxime Knitting during the transaction.
BekaertDeslee is part of Haniel & Cie. GmbH, family-owned company headquartered in Duisburg, Germany. Haniel’s other business units include BauWatch, CWS, EMMA, das kinderzimmer, Optimar, ROVEMA and TAKKT. Additionally, Haniel is one of the shareholders of CECONOMY.