08.19.19
Drylock Technologies has sold 25% of its capital to Sofina, a Belgian family run and controlled investment company. The funds will fuel Drylock’s ambitious growth plans in further rolling out its technological and patented product portfolio. Bart Van Malderen will remain the majority shareholder as well as chairman and CEO.
“In the past seven years we have been growing and building Drylock at an incredibleyfast pace. As such we have commissioned four plants from scratch, acquired five others in Russia, Italy, North America and Brazil, whilst leading product innovations with proprietary technology such as the fluffless and channel technology," he says. "Today we have a platform that allows us to continuously and rapidly further expand our business and I am pleased to welcome Sofina in supporting the further roll-out of our business plan.”
“In the past seven years we have been growing and building Drylock at an incredibleyfast pace. As such we have commissioned four plants from scratch, acquired five others in Russia, Italy, North America and Brazil, whilst leading product innovations with proprietary technology such as the fluffless and channel technology," he says. "Today we have a platform that allows us to continuously and rapidly further expand our business and I am pleased to welcome Sofina in supporting the further roll-out of our business plan.”
In describing the transaction, Harold Boël, CEO of Sofina says, “We were impressed by the speed and success of Drylock Technologies so far. The entrepreneurial spirit, the state-of-the-art production platform with a global presence, the portfolio of sustainable products, the healthy and promising customer mix, and our meetings with the Drylock team have all contributed to convince us of this investment’s merits. Drylock fits in our strategy of investing in growing businesses with a partner that also believes in the virtues of patience and entrepreneurship. We are looking forward to collaborate with Drylock’s management and to contribute to its success.”
Based in Zele, Belgium, Drylock employs 2500 epople globally and has production sites in Russia, Italy, the Czech Republic, Spain, the U.S. and Brazil. Sofina, meanwhile, is a family-run and controlled investment company with equity holdings in Europe, the U.S. and Asia across many sectors with a particular focus on consumer goods, digital, education and healthcare.
