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HIG Capital acquires Texbond

HIG Europe, the European arm of global private equity firm HIG Capital, has acquired a controlling interest in Texbond, a producer of specialty polypropylene nonwovens.

Founded in Rovereto in the Trentino region of northern Italy in 1988, Texbond specialises in nonwovens for specialty applications in the hygienic, medical, construction, automotive, household and agricultural industries.
 
Terms were not disclosed.
 
Texbond founder and chairman Giuseppe Gaspari and the chief executive Cristina Parisi have invested in the transaction alongside HIG Europe, providing management continuity as well as technical and strategic expertise to support the growth plans.
 
Raffaele Legnani, managing director and head of HIG Europe in Italy, says: “We believe that Texbond is a unique player in the industry which can serve as a platform for a buy and build strategy at a global level, capitalising on HIG’s international network and financial resources to support the development plan. Jonathan Bourget, senior adviser to HIG, with extensive experience in the industry, has also invested in the transaction and will assist us in scouting and analysing acquisition opportunities.”
 
Gaspari adds: “The partnership with HIG represents an important milestone for the growth of Texbond that will allow us to expand our presence in Europe, which is a very fragmented market, and in the US. We believe that Texbond’s technical expertise and its highly effective management team, led by the CEO Cristina Parisi, are an important competitive advantage.”

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