Aurelius group, a pan-European, mid-market investor, has sold its stake in Tavex Europe to a Spanish consortium of investors.
The acquiring consortium will continue to support the restructuring measures implemented by Aurelius following its acquisition of Tavex Europe in 2015, as well as the company’s expansion. The financial terms of the transaction have not been disclosed.
Tavex Europe is headquartered in Bergara, Spain and develops, produces and distributes premium quality, sustainably developed denim fabric for major fashion brands in Europe. Aurelius acquired the Company in early 2015 and, following its successful carve-out from Brazilian corporate Grupo Tavex, established it as a standalone company. Under Aurelius’ ownership, sustainable corporate structures, processes and costs structures, as well as various growth initiatives were introduced and have, in most cases, already been implemented. One of these growth initiatives included the expansion of the product range into innovative fabrics in the area of comfort wear and ladies fashion. Furthermore, a variety of new products targeted at the central and northern European markets, were developed.
Dr Reinhard Dethloff, Vice President at Aurelius and Investment Director responsible for Tavex Europe, says:“Tavex Europe has benefitted considerably from the experience of Aurelius’ management and operationally focussed Task Force. We are really pleased to have been able to establish Tavex Europe in the past year as a dynamic, highly profitable company in the attractive and growing market for premium and innovative denim products”.
