SÃ¼dwolle Group, based in Schwaig near Nuremberg, Germany is the worldâ€™s market leader for worsted spun yarn for weaving, circular and flat knitting in pure wool and wool blends signed an agreement to acquire a 100% stake in Safil S.p.A. as well as an 80% stake in Gruppo Tessile Industriale (GTI) S.p.A., both Italian based worsted yarn manufacturers.
With these acquisitions, SÃ¼dwolle Group enhances its product range and capability to address client needs in customized, fashion, luxury as well as non-apparel segments. Furthermore, the group will increase its footprint in the European and especially in the important Italian yarns market.
Both Safil and GTI are established family businesses that currently generate the majority of their turnover in Italy. With the global reach and the financial strength of SÃ¼dwolle Group as a reliable industrial partner, Safil and GTI will be able to enter their next phase of growth, expanding within and beyond Europe.
SÃ¼dwolle Group, whose roots date back to 1918, covers the complete yarn value chain from the sourcing of raw materials to treatment, spinning and dyeing. It has six principal brands: SÃ¼dwolle (weaving yarns), Biella Yarn (flat knitting yarns), Yarn in Motion (circular knitting yarns especially for the outdoor sector and functional clothing), Richter (yarns for hosiery), StÃ¶hr (yarns for technical applications, e.g. for automotive, upholstery and corporate) and Soey (Air Jet yarns).
With production facilities in Germany, Poland, Romania and China, SÃ¼dwolle Group employs more than 2,300 people worldwide. SÃ¼dwolle Group combines a worldwide yarn spinning capacity of 21,000 tons p.a., a dyeing capacity of 8,000 tons p.a. and a wool top treatment capacity of 7,000 tons p.a. The products are ranging from large volume standard yarns to highly customized yarns.
Traditionally, SÃ¼dwolle Group was focused on large volume orders of standard yarns. Over the past decades, the group has diversified its business model and branched out into customized yarn segments, developing into a one stop shop for its customers. In fiscal 2014, SÃ¼dwolle Group posted revenues of â‚¬ 340 million.
Safil And GTI form perfect strategic fit with SÃ¼dwolle Group. Safil, based in Gaglianico in Italyâ€™s Biella province, is a renowned supplier of worsted yarns for knitwear (outwear, underwear, jersey), weaving (apparel and upholstery), hosiery, protection clothing and sportswear and has shown steady growth over the past years. With approx. 700 employees and production facilities in Italy and Bulgaria with production space of almost 60,000 sqm, the company has a yearly spinning capacity of ca. 7,000 tons and a cone dyeing capacity of ca. 4,000 tons per year. In 2014, Safil posted revenues of more than â‚¬ 90 million.
While, GTI is based in Verrone in Italyâ€™s Biella province, develops, manufactures and commercializes worsted and woolen yarns for the weaving and knitwear industries, focusing on small productions of high-end yarns for suppliers to the luxury fashion industry. GTI has approx. 50 employees, a yearly spinning capacity of ca. 200 tons and production space of ca. 5,500 sqm. In 2014, GTI posted revenues of more than â‚¬ 10 million.
Klaus Steger, CEO of SÃ¼dwolle Group, said that Safil and GTI are established players in their respective segments with significant international growth potential that they want to realize together with their experienced management teams. The closing of the transaction is expected within the coming weeks.
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