VITA
Strategic Value Partners acquires PU foam manufacturer
In future, foam manufacturer Vita Group (Luxembourg; www.thevitagroup.com) will be part of the portfolio of investment company Strategic Value Partners (SVP, Greenwich, Connecticut / USA; www.svpglobal.com). SVP has acquired the group from its former US owner TPG Opportunities Partners (www.tpg.com) for an undisclosed price.
The Vita Group, which had been owned by TPG since 2005, produces flexible PU foam for mattress applications (within its Comfort product division) and technical foams for medical devices, automotive engineering and the construction industry (Technical product division). The group employs 2,700 people in 37 plants, mainly in Europe. Revenues in 2017 amounted to EUR 673.9m (EUR 604.4m in 2016) with an EBITDA of EUR 40.1m (EUR 58.3m in 2016). Net profit fell more sharply to EUR 8.6m (EUR 19.4m in 2016). This was most likely due to the high cost of isocyanates, which could not be passed on in full. In 2017, Vita expanded its production capacity in Middleton (UK) and Albania.
The Vita Group, which had been owned by TPG since 2005, produces flexible PU foam for mattress applications (within its Comfort product division) and technical foams for medical devices, automotive engineering and the construction industry (Technical product division). The group employs 2,700 people in 37 plants, mainly in Europe. Revenues in 2017 amounted to EUR 673.9m (EUR 604.4m in 2016) with an EBITDA of EUR 40.1m (EUR 58.3m in 2016). Net profit fell more sharply to EUR 8.6m (EUR 19.4m in 2016). This was most likely due to the high cost of isocyanates, which could not be passed on in full. In 2017, Vita expanded its production capacity in Middleton (UK) and Albania.
17.05.2018 Plasteurope.com [239739-0]
Published on 17.05.2018
German version of this article...