FibrXL – a Dutch and US-based distributor and converter of High Tenacity Yarns – announces the acquisition of Eurotexfilati SRL in Italy.

The transaction is in line with FibrXL’s strategic plan to become the largest worldwide high-tenacity fibre distribution platform.

Almere, 8 May 2023 – Eurotexfilati, founded in 1975, generates medium and High Tenacity synthetic fibres for various applications in the industrial market as well as for textile purposes. The company is headquartered in Dro, Italy, and has a subsidiary office in Istanbul, Turkey. Eurotexfilati is a converter and distributor of yarns and plays a key role in the value chain of fiber waste recycling. It serves clients mainly in Italy, Spain, Turkey, and the Baltics of products that are sourced across the globe. Eurotexfilati will become part of the FibrXL Group, which will lead to a total estimated revenue of over EUR 115 million with in total of 97 FTE.

With this acquisition, FibrXL strengthens its position in the many-to-many market while it remains eager to expand its footprint across the markets it serves. The combination benefits from scale and scope in procurement and sales toward existing and new clients. FibrXL expects to complete this transaction before the end of June 2023.

FibrXL is a Dutch-based distributor and converter of High Tenacity yarns such as polyester, polyamide, Dyneema®, Prisma, Twaron, and Technora for various industrial applications in Europe, Africa, and North America. The synthetic yarns hold specific properties and are used in offshore-, automotive- and geotextile industries, as well as the packaging, strapping-, rope- and net industries.

Strategy going forward

Over the coming years, FibrXL expects to further accelerate growth through a combination of strategic focus on High Tenacity yarns, geographical expansion, and targeted bolt-on acquisitions. FibrXL is the market leader in its core markets and optimally positioned to benefit from the strong growth in the market for both premium yarns, such as Dyneema® and Twaron, and High Tenacity yarns, such as polyester and polyamide. In addition, plans for the roll-out of warehouses and offices in strategic locations are ready to be deployed. Lastly, there still exist several opportunities for bolt-on acquisitions in both Europe and North America.

Management

Jeroen Drenth, CEO of the FibrXL Group, states: “Eurotexfilati is a very much welcome add-on to our group, led by a strong management team supported by a team of highly skilled staff with a deep knowledge of the market and end-users they serve. As such, Eurotexfilati will be able to make a difference and offer value add to our clients in Europe and the Middle East. For FibrXL, this is only the beginning; we are determined to expand our footprint organically and through acquisitions”. Walter Perini, Chairman of Eurotexfilati, stated: “We are ready to take the next step as part of FibrXL, for us they are the ideal partner to help us grow and use the expertise and scale to become a more dominant player in EMEA”. Walter Perini and Gianluca Zanivan will remain as management of FibrXL Italy Srl and will further contribute to the growth of FibrXL.

About FibrXL

FibrXL is a leading distributor of High Tenacity yarns, such as polyester, polyamide, Aramid, and Synthetic continuous filament yarns that are used in ropes, strappings, and fabrics. Over the last twenty-five years, FibrXL has become the leading distributor of industrial yarns in Europe, Africa, and North America. The company serves over a thousand customers yearly through its network of branch offices and warehouses strategically placed over three continents. It plays an important role in a many-to-many market, connecting fibre producers to a wide array of product manufacturers serving a variety of end markets. FibrXL’s customer-oriented distribution model is underpinned by its strong focus on competitive pricing, fast deliveries, and extensive yet balanced stocks. FibrXL is a portfolio company of Active Capital Company.

FibrXL takes its responsibility towards a sustainable future

FibrXL announces that as of October 1^st, 2020 they have the first bio-based HMPE fiber available for customers: bio-based Dyneema® fiber.  This represents a first step in realizing FibrXL’s goal to create a more sustainable future in the technical textile industry.

FibrXL is convinced that the technical textile industry needs to take action now to meet the UN Sustainable Development Goals within 10 years. In August this year, FibrXL organized a hackathon that marked the start of their ambitious and holistic approach towards a brighter and greener future: it’s called Project Helix. Together with industry partners covering the complete value chain from yarn spinners, manufacturers, logistic partners, recycling companies and related authorities they shared experiences, insights and visions to jointly shape the future conditions to stay successful in business.  Marcel Alberts, Managing Director FibrXL Performance said “we need to take our joint responsibility to improve the circularity of the products we sell. We need the support of all industry partners to make a first step towards a greener world.”

Bio-based Dyneema® Fiber
DSM Protective Materials is the first producer ever launching a bio- based ultra-high molecular weight polyethylene fiber (branded as Dyneema®) using a by-product  from the wood pulp industry as a sustainable resource to produce renewable Ethylene feedstock. Based on mass balance approach the bio-based fiber is manufactured in such a way that the final product is identical to the fossil-based yarn. This means zero compromise on quality, characteristics and performance!  Giovanni Henssen, Sales Director FibrXL Performance, said “ As of October 1^st, we have Dyneema® SK99 and SK78 available for our customers. FibrXL is fully committed to a sustainable future and supports DSM’s ambition converting the Dyneema® portfolio into bio-based source.”

Olivier Janin, Vice President Marketing & Sales at DSM Protective Materials, said “We are taking the next step in our sustainability journey, and driving our industry’s transition from conventional to renewable resources with bio-based Dyneema® fiber. Bio-based Dyneema® fiber will help our partners and customers further reduce their carbon footprint, while continuing to rely on the same trusted performance of the world’s strongest fiber. It’s great to see how our partner FibrXL is taking its responsibility towards a more sustainable future in the textile industry by initiating Project Helix and converting their portfolio to more sustainable products”.