Sofina invests €150m in Drylock Technologies

Sofina has acquired a stake of around 25% in Drylock, while the company's chairman and CEO, Bart van Malderen, has retained the remainder. The growth capital will be mostly used to expand and support innovation in nine plants of the company, but future acquisitions could also take place, Unquote understands. 

In the past seven years, Drylock has commissioned four plants and acquired five others in Russia, Italy, North America and Brazil, according to a statement.

Listed on Euronext Brussels, Sofina is specialised in minority transactions. Some of the firm's investments are long-term (lasting on average 10-20 years) and the Drylock investment belongs to this category. 

Company
Founded in 2011, Drylock Technologies manufactures hygiene products, including baby nappies, incontinence products, and feminine hygiene products. Based in Zele, the company has eight plants and three sales offices across Europe, the Americas and Asia.

Drylock posted revenues of €400m in 2018, Unquote understands. It employs 2,500 people.

People
Sofina – Harold Boël (CEO).
Drylock Technologies – Bart Van Malderen (CEO).

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• Topics
• Expansion
• Benelux
• Consumer
• Belgium