Aurelius sells handicraft business Mez

Aurelius acquired Mez, then known as Coats EMEA Crafts Group, from UK-based parent company Coats in February 2015 for $10m. The company reported revenues of €134m in 2013 and employed 900 staff.

During the investment period, Aurelius was restructured, its cost structure was optimised and its product portfolio was updated in response to customer preferences, according to a statement from the GP.

Aurelius also sold Mez's Italy-based subsidiary Mez Cucirini in a management buy-back in June 2019.

In April 2020, Mez also sold the hand-knitting yarn businesses of its Rowan and Patons brands to distribution partner DMC Group, a portfolio company of Lion Capital. Rowan and Patons were largely sold in the US and UK, and the sale therefore allowed Mez to focus on its Schachenmayr and Regia brands in continental Europe.

Aurelius stated in its 2019 report that Mez's revenues were below plan for Q4 2019, noting that the company had made sales gains in the knitting segment but not elsewhere.

Company
Mez sells handicraft materials for hobbies, including sewing, crochet and embroidery, focusing on yarn brands Schachenmayr and Regia in the DACH region. In southern and eastern Europe, the company sells products produced in its manufacturing facility in Hungary. The company sells its products online and in retail outlets.

Founded in 1755 and based in Herbolzheim, the company reported 2017 revenues of €37.9m, compared with €20.3m in 2016, according to publicly available documents. The company has 89 employees, according to LinkedIn.

People
Aurelius – Philipp Diekmann (operating partner).

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