Germany's Setex Schermuly transfers majority stake to Elvaston Capital

05 Sep '23

1 min read

Pic: Setex

Insights

Setex Schermuly textile computer GmbH has transferred a majority stake to Elvaston Capital Management GmbH.
Elvaston has created Textile Solutions Holding GmbH to manage a technology portfolio that aims for seamless integration in the textile process chain.
Christoph and Oliver Schermuly, the current owners of Setex, will remain as managing directors.

Germany’s Setex Schermuly textile computer GmbH, a global leader in manufacturing process management software and textile machinery controls, has announced the transfer of a majority stake to Elvaston Capital Management GmbH.

Private equity partner Elvaston has established the overarching Textile Solutions Holding GmbH. This company will manage a portfolio of technology companies that ensure seamless integration along the textile process chain and introduce unique market functionalities.

The current company owners of Setex, Christoph and Oliver Schermuly, will continue their roles as managing directors.

Setex looks to the future with great optimism in this new constellation and is convinced that this strategic step will further increase Setex’s competitiveness and growth potential, the company said in a press release.

Fibre2Fashion News Desk (NB)

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