COFIDES has announced its participation in a syndicated financing to support the internationalization of BCNonwovens, a leading company specializing in the production and supply of nonwoven fabrics. This operation, led by Caixabank and structured in four tranches, totals 50,5 million euros. COFIDES' specific contribution focuses on the tranche intended for the acquisition of Atex Inc (GA), through a loan valued at 9 million euros from the Overseas Investment Fund (FIEX).
This investment represents the first international foray for BCNonwovens, allowing it to expand into an emerging market and complementing its existing technologies and products. Atex Inc., located in Georgia (USA)BCNonwovens is dedicated to the design and production of specialty nonwoven materials for various end-use applications. With three production lines and a workforce of 75 employees, this strategic acquisition will allow BCNonwovens to increase its production capacity and diversify its technological offering.
Miguel Ángel Ladero, corporate director of Investments at COFIDES, said: “For COFIDES it is very interesting to be able to contribute to the internationalization of a Spanish company in the US market given the market potential and the positive synergies expected with the transaction, in a priority destination for Spanish investment and through a project that aims to create quality employment both in Spain and in the US.”
For its part, Miguel Vines, president of BCNonwovens, commented: “Atex USA provides us with a strategic point of entry into the growing North American markets with the necessary space for future investments. We look forward to joining forces between the two organizations and continuing down the path of growth.”
Marko Rajamaa, CEO of BCNonwovens added: “At BCNonwovens we are excited to welcome all Atex USA employees to our family-owned company. With a customer focus and commitment to excellence, Atex USA has a proven track record of delivering highly specialized solutions to its customers.”
Finally, Luca di Benedetto, CEO of Atex USA Inc., noted: “At Atex USA we are extremely proud of our accomplishments thus far and are equally excited to begin this new chapter alongside our new owner BCNonwovens.”
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