Tytex & STA to develop advanced industrial textile products
12 Jul '06
3 min read
Jacob Holm & Sons STA A/S and Tytex Group A/S are joined into one company that will be among the leading global suppliers of advanced industrial textile products in selected areas.
Tytex is a provider of niche medical textile products. The owners aim to groom the company for a potential listing in three to five years through consistent strong organic growth supported by acquisitions.
The new company is being established by Jacob Holm & Sønner A/S hiving off the division STA (Special & Technical Applications) into an independent company under the name of Jacob Holm & Sons STA A/S, in which LD Equity will acquire a shareholding interest. Subsequently, Jacob Holm & Sons STA A/S will take over all shares in the Tytex from the Thygesen Textile Group A/S, which is owned by Axcel I A/S and the Thygesen family.
The aim of the combined company is to become a leading global supplier of advanced industrial textile products. The present co-owners of the Tytex Group, the brothers Søren, Eskild and Niels Laurits Thygesen, are expected to join the group of owners soon.
The company will have approximately 550 employees and own production plants in Germany, Slovakia, Ireland and the USA in addition to sales companies in Denmark, Switzerland, Germany and the USA.
Jacob Holm & Sons STA and the Tytex Group develop and manufacture advanced textiles, each on the basis of their own technology. Jacob Holm & Sons STA uses spunlace technology to produce textiles with certain desired special properties.