Amsterdam – CFI is pleased to announce it acted as the exclusive corporate finance advisor to Innofa, on the sale of Febrik (also the ‘Company’) to Danish industrial peer Kvadrat.
Strongly rooted in Tilburg, the Netherlands, which is historically tied to the textile industry, Dutch textile company Febrik has in less than 10 years made its international mark on the design community with its innovative approach and designer collaborations. Creating distinguished textiles that can be brought into play in the whole gamut of interiors – from domestic use to contract environments, three-dimensional structure and stretch are intrinsic qualities to the process of knitting and Febrik’s hallmark along with a vibrant and versatile colour identity.
Innofa is a global manufacturer of knitted fabrics for the mattress, automotive, medical, sports and technical textiles. The company’s continuous research and development efforts enable it to produce the most complex customized fabrics and patterns to high quality standards. Innofa started Febrik in 2008 under the name of Innofa Stretch Textiles.
Family-owned Kvadrat was established in Denmark in 1968 and has deep roots in Scandinavia’s world-famous design tradition. Kvadrat holds the leading position in Europe’s high-quality contemporary textiles market. It supplies architects, designers and private consumers across the world with textiles and textile-related products.
Mr Jos Pelders (CEO Febrik) stated: “Jaap de Jong and his team have guided us in the process of a (majority) takeover by the largest player in our field. The setting comprised of several shareholders, advisers and stakeholders all with different interests and feelings. They have been able to keep everybody on board according to tight planning and to coordinate all matters in such a way that eventually we reached a deal that everyone was happy with.
Mr Job Dröge (Shareholder Febrik, representing Innofa) stated: “The process was very professionally, proficiently and accurately supervised by our bankers at a good pace; pausing when it was needed and accelerating when necessary. Result driven, with not only attention for the technical process but also for the human aspects of the transaction, which not only led to a good financial and legal result but also to a good feeling.”
CFI advised Innofa and Febrik in a process that ultimately resulted in a successful transaction with Kvadrat. The transaction was closed on 23 May 2018.
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