10.12.23
Merger and acquisition activity continues to be strong across the nonwovens supply chain as companies look to expand into new markets and new geographies. From the merger of two of Japan's largest nonwovens producers Mitsui Chemicals and Asahi Kasei, which will create a $400 million company, to Andritz's acquisition of airlaid Dan-Webforming in the machinery segment, these moves are creating nonwovens powerhouses globally. Meanwhile, within the end user categories, companies like Hospeco and Envoy Solutions have been acquiring smaller companies to expand their reach into new market areas, while Essity and Ontex, both hygiene manufacturers, have been divesting smaller, regional operations to more narrowly focus on growth areas.
Acquiring Company: Clean Solutions Group
Acquired Company: HDK Industries
Date of Acquisition: November 2023
Comments: Clean Solutions, a group of environmentally responsible nonwoven filtration media and cleaning products, is purchasing HDK Industries, a leading producer of wire back and self-supporting media for air and liquid filtration materials. The HDK Industries brand will be consolidated into the Fibrix Filtration brand
More information: Clean Solutions Group Acquires HDK Industries
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Acquiring Company: Hildred Capital Management
Acquired Company: Hello Bello
Date of Acquisition: October 2023
Comments: Hello Bello, a premium brand of affordable baby and family care products, will be acquired by Hildred Capital Management, a healthcare-focused private equity firm.
More information: Hello Bello to be Acquired by Private Equity Firm
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Merging Company: Big Tree Cloud International Group
Merging Company: Plutonian Acquisition Group
Date of Merger: October 2023
Comments: Big Tree Cloud International, a Chinese producer of persoanl care and other consumer goods, has merged with Plutonian Acquisition Corp. to be operated under a holding entity named Big Tree Cloud Holdings. Big Tree Cloud's product lineup is largely comprised of feminine care items.
More information: Big Tree Cloud Enters Into Definitive Merger Agreement with Plutonian Acquisition Corp.
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Acquiring Company: ASAIA Holding
Acquired Company: Ontex Pakistan Operations
Date of Acquisition: September 2023
Comments: Ontex Group NV, a leading European-based developer and manufacturer of hygiene products and solutions for retailers and healthcare, has agreed sell its business in Pakistan to ASAIA Holding FZ. The transaction includes Ontex’s plant and business in Pakistan.
More information: Ontex Divests Pakistan Operations
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Acquiring Company: VPC Group
Acquired Company: Fibrix
Date of Acquisition: August 2023
Comments: VPC Group, a vertically integrated foam and fiber manufacturer, acquired Conover, NC-based Fibrix, a leader in the nonwovens business. This strategic acquisition will allow VPC to better serve its customer base across all product lines. The combined strengths, capabilities and overall footprint of the two companies, provide a positive outlook for increased market competitiveness and growth opportunities as well.
More information: VPC Group Acquires Fibrix
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Acquiring Company: Mann + Hummel
Acquired Company: Suzhou U-Air Environmental Technology
Date of Acquisition: July 2023
Comments: Mann+Hummel is expanding its air filtration business through the acquisition of a majority stake in Suzhou U-Air Environmental Technology (“U-Air”). The Chinese filtration manufacturer, which is part of Zisun Technology Co., Ltd., provides high-quality air filtration products. The acquisition further strengthens Mann+Hummel's presence in China and Southeast Asia, and will also serve customers globally.
More information: Mann + Hummel to Acquire Chinese Filtration Manufacturer
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Acquiring Company: Cornerstone/Kartesia
Acquired Company: Ecowipes
Date of Acquisition: July 2023
Comments: Private equity investors Cornerstone Investment Management and Karteisa
acquired Ecowipes, a leading European producer of bio-degradable wet wipes. This acquisition marks a significant milestone in both companies' strategic commitment to ESG investing. Ecowipes has an impressive track record of introducing ingenious products and is a pioneer in the field of producing biodegradable wet wipes made from sustainable natural materials with minimal environmental impact. The company has been an environmental and technological leader in the European wet wipes industry since 2011 and has built an excellent reputation for quality, sustainability, and innovation.
More information: Private Equity Firm Buys Ecowipes
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Acquiring Company: Softys
Acquired Company: Ontex Mexican Operations
Date of Acquisition: June 2023
Comment: Ontex has sold its Mexican business activities to Softys, a personal hygiene company with operations across Latin America. The deal included a manufacturing site in Puebla, Mexico, a branded business in Mexico as well as related exports to regional markets. Ontex's Tijuana site was not affected.
More information: Ontex Sells Mexican Business
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Acquiring Company: TWE Group
Acquired Company: Obeetee Textiles (joint venture)
Date of Acquisition: June 2023
Comments: TWE Group and Obeetee Textiles (OTL) have formed a strategic joint venture in which TWE and OTL, a leading manufacturer of nonwoven textiles in India, have entered into a 50:50 partnership. This joint venture will be named TWE OBT Private Limited. It involves investment in a new facility, located in India, dedicated to nonwovens products for the health and hygiene segment.
More information: TWE Group, Obeetee Textiles Form Joint Venture in India
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Acquiring Company: New Technologies
Acquired Company: Essity Russian Operations
Date of Acquisition: July 2023
Comments: Essity exited the Russian market in July 2023 after selling its business to New Technologies. Sales in Russia represented about 2% of the company’s overall revenues.
More information: Essity Exits Russian Market
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Acquiring Company: Andritz Group
Acquired Company: Dan-Webforming Technology
Date of Acquisition: June 2023
Comments: Dan-Webforming, a maker of turnkey airlaid production lines, joins the Andritz technology lineup which already includes spunlace, wetlace and other proprietary processes. Based in Denmark, Dan-Web engineers, designs and builds customized machines and turnkey plants to produce airlaid nonwovens for baby diapers, fem care, incontinence products, wipes and other applications.
More information: Andritz Buys Stake in Dan-Web
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Acquiring Company: iCotton
Acquired Company: Hempress Hygienics
Date of Acquisition: June 2023
Comments: iCotton, a Latvian cotton-based products manufacturer, has acquired the key assets of Hempress Hygienics Inc. (USA), including IP rights, trademarks and patents. The transaction sets iCotton footprint in the U.S. market in-line with its strategy aimed at producing natural fiber-based hygiene products sold in Europe and exported internationally.
More information: iCotton Buys Hempress Hygienics
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Acquiring Company: Sviluppo Sostenibile
Acquired company: Magic
Date of Acquisition: May 2023
Comments: Sviluppo Sostenibile, a private equity fund specialized in investments in Italian SMEs and promoting ESG issues, managed by DeA Capital Alternative Funds SGR, a company of the Novara-based De Agostini Group, acquired a majority stake in Magic. Magic, founded in 1987, is a family-owned company based in Oleggio (NO) and active in producing and processing airlaid for a variety of applications.
More information: Private Equity Fund Acquires Majority Stake in Magic
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Acquiring Company: Fine Hygienic Holding
Acquired Company: Easy Brands
Date of Acquisition: April 2023
Comments: Fine Hygienic Holding (FHH), a manufacturer of hygiene paper products and long-term germ protection solutions, has acquired Easy Care for Cosmetics and New Easy for Cosmetics (together referred to as Easy), consumer goods companies based in Alexandria, Egypt.
More information: Fine Hygienic Holdings Acquires Easy Brands
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Merging Company: Hospeco Brands Group
Merging Company: Monarch Brands
Date of Merger: April 2023
Comments: Hospeco Brands Group, has merged with with Monarch Brands, wholesalers and manufacturers of microfiber, commercial laundry linen, institutional textiles, and wiping products. The move dramatically expands Hospeco Brands Group’s offering of wiping solutions and microfiber and adds complementary new lines to an already robust product mix.
More information: Hospeco, Monarch Brands Announce Merger
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Acquiring Company: Autoneum
Acquired Company: Borgers Automotives
Date of Acquisition: April 2023
Comments: Autoneum purchased the automotive business of Borgers, to expand its global market leadership in sustainable acoustic and thermal management of vehicles. Autoneum now operates 67 production facilities worldwide and employs around 16,100 people in 24 countries.
More information: Autoneum Finalizes Acquisition of Borgers Automotives
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Acquiring Company: Envoy Solutions
Acquired Company: GPMI
Date of Acquisition: March 2023
Comments: Envoy Solutions acquired two Arizona-based companies including GPMI Company, a manufacturer of home care, automotive and disinfecting wipes, both branded and private labels. The company's products are sold to major retailers and to distributors in the consumer market across the country.
More information: Envoy Solutions Acquires Two Arizona Based Companies
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Acquiring Company: Hospeco
Acquired Company: Innocore
Date of Acquisition: February 2023
Comments: Hospeco Brands Group purchased Innocore of Ontario, Canada, maker of Touch Point and Certainty Brands premoistened, nonwoven, surface and personal wipes, and other hand care products. The merger complements HBG’s wipes offering and expands the company’s North American footprint in the wipes market. The merger of the two companies is effective immediately.
More information: Hospeco Acquires Innocore
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Acquiring Company: Regent L.P.
Acquired Company: Alkegen Thermal Acoustical Solutions Business
Date of Acquisition: February 2023
Comments: Alkegen sold its Thermal Acoustical Solutions (TAS) business unit, which manufactures high performance acoustical and thermal management insulation components for the automotive and transportation industries, to Regent L.P. in February 2023. The divestment aligns with Alkegen’s long-term strategy to advance its growing portfolio of specialty materials dedicated to sustainability and human health.
More information: Alkegen to Sell Thermal Acoustical Solutions
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Merging Company: Mitsui Chemicals
Merging Company: Asahi Kasei
Date of Merger: February 2023 (announced)
Comments: Mitsui Chemicals and Asahi Kasei formed a plan to form a new integrated company combining their nonwovens businesses with a tentative start date in late 2023. This plan will be carried out through a corporation-type demerger enabling the establishment of the new integrated company pending the approval of authorities in Japan and Thailand, where the two companies have operations. The new company will be known as Mitsui Chemicals Asahi Life Materials.
More information: Mitsui Chemicals and Asahi Kasei to Combine Nonwovens Businesses
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Acquiring Company: Mann + Hummel
Acquired Company: M Filter Group
Date of Acquisition: January 2023
Comments: The Mann+Hummel Group has invested in M-Filter Group, one of the largest filter manufacturing companies in Northern and Eastern Europe with several production facilities in Finland and Lithuania. Since 1962, the company has specialized in different areas of filtration, including air ventilation filters, HEPA filters and oil/hydraulic filters for engines. While the brand Filterpak will complement Mann+Hummel's existing portfolios in commercial and residential HVAC, M-Filter will stand for a strong input in the OEM products for industrial and engine filtration.
More information: Mann + Hummel Invests in M-Filter Group
* This report will be updated.
Acquiring Company: Clean Solutions Group
Acquired Company: HDK Industries
Date of Acquisition: November 2023
Comments: Clean Solutions, a group of environmentally responsible nonwoven filtration media and cleaning products, is purchasing HDK Industries, a leading producer of wire back and self-supporting media for air and liquid filtration materials. The HDK Industries brand will be consolidated into the Fibrix Filtration brand
More information: Clean Solutions Group Acquires HDK Industries
____________________________________________________________________________
Acquiring Company: Hildred Capital Management
Acquired Company: Hello Bello
Date of Acquisition: October 2023
Comments: Hello Bello, a premium brand of affordable baby and family care products, will be acquired by Hildred Capital Management, a healthcare-focused private equity firm.
More information: Hello Bello to be Acquired by Private Equity Firm
____________________________________________________________________________
Merging Company: Big Tree Cloud International Group
Merging Company: Plutonian Acquisition Group
Date of Merger: October 2023
Comments: Big Tree Cloud International, a Chinese producer of persoanl care and other consumer goods, has merged with Plutonian Acquisition Corp. to be operated under a holding entity named Big Tree Cloud Holdings. Big Tree Cloud's product lineup is largely comprised of feminine care items.
More information: Big Tree Cloud Enters Into Definitive Merger Agreement with Plutonian Acquisition Corp.
____________________________________________________________________________
Acquiring Company: ASAIA Holding
Acquired Company: Ontex Pakistan Operations
Date of Acquisition: September 2023
Comments: Ontex Group NV, a leading European-based developer and manufacturer of hygiene products and solutions for retailers and healthcare, has agreed sell its business in Pakistan to ASAIA Holding FZ. The transaction includes Ontex’s plant and business in Pakistan.
More information: Ontex Divests Pakistan Operations
____________________________________________________________________________
Acquiring Company: VPC Group
Acquired Company: Fibrix
Date of Acquisition: August 2023
Comments: VPC Group, a vertically integrated foam and fiber manufacturer, acquired Conover, NC-based Fibrix, a leader in the nonwovens business. This strategic acquisition will allow VPC to better serve its customer base across all product lines. The combined strengths, capabilities and overall footprint of the two companies, provide a positive outlook for increased market competitiveness and growth opportunities as well.
More information: VPC Group Acquires Fibrix
____________________________________________________________________________
Acquiring Company: Mann + Hummel
Acquired Company: Suzhou U-Air Environmental Technology
Date of Acquisition: July 2023
Comments: Mann+Hummel is expanding its air filtration business through the acquisition of a majority stake in Suzhou U-Air Environmental Technology (“U-Air”). The Chinese filtration manufacturer, which is part of Zisun Technology Co., Ltd., provides high-quality air filtration products. The acquisition further strengthens Mann+Hummel's presence in China and Southeast Asia, and will also serve customers globally.
More information: Mann + Hummel to Acquire Chinese Filtration Manufacturer
____________________________________________________________________________
Acquiring Company: Cornerstone/Kartesia
Acquired Company: Ecowipes
Date of Acquisition: July 2023
Comments: Private equity investors Cornerstone Investment Management and Karteisa
acquired Ecowipes, a leading European producer of bio-degradable wet wipes. This acquisition marks a significant milestone in both companies' strategic commitment to ESG investing. Ecowipes has an impressive track record of introducing ingenious products and is a pioneer in the field of producing biodegradable wet wipes made from sustainable natural materials with minimal environmental impact. The company has been an environmental and technological leader in the European wet wipes industry since 2011 and has built an excellent reputation for quality, sustainability, and innovation.
More information: Private Equity Firm Buys Ecowipes
____________________________________________________________________________
Acquiring Company: Softys
Acquired Company: Ontex Mexican Operations
Date of Acquisition: June 2023
Comment: Ontex has sold its Mexican business activities to Softys, a personal hygiene company with operations across Latin America. The deal included a manufacturing site in Puebla, Mexico, a branded business in Mexico as well as related exports to regional markets. Ontex's Tijuana site was not affected.
More information: Ontex Sells Mexican Business
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Acquiring Company: TWE Group
Acquired Company: Obeetee Textiles (joint venture)
Date of Acquisition: June 2023
Comments: TWE Group and Obeetee Textiles (OTL) have formed a strategic joint venture in which TWE and OTL, a leading manufacturer of nonwoven textiles in India, have entered into a 50:50 partnership. This joint venture will be named TWE OBT Private Limited. It involves investment in a new facility, located in India, dedicated to nonwovens products for the health and hygiene segment.
More information: TWE Group, Obeetee Textiles Form Joint Venture in India
____________________________________________________________________________
Acquiring Company: New Technologies
Acquired Company: Essity Russian Operations
Date of Acquisition: July 2023
Comments: Essity exited the Russian market in July 2023 after selling its business to New Technologies. Sales in Russia represented about 2% of the company’s overall revenues.
More information: Essity Exits Russian Market
____________________________________________________________________________
Acquiring Company: Andritz Group
Acquired Company: Dan-Webforming Technology
Date of Acquisition: June 2023
Comments: Dan-Webforming, a maker of turnkey airlaid production lines, joins the Andritz technology lineup which already includes spunlace, wetlace and other proprietary processes. Based in Denmark, Dan-Web engineers, designs and builds customized machines and turnkey plants to produce airlaid nonwovens for baby diapers, fem care, incontinence products, wipes and other applications.
More information: Andritz Buys Stake in Dan-Web
____________________________________________________________________________
Acquiring Company: iCotton
Acquired Company: Hempress Hygienics
Date of Acquisition: June 2023
Comments: iCotton, a Latvian cotton-based products manufacturer, has acquired the key assets of Hempress Hygienics Inc. (USA), including IP rights, trademarks and patents. The transaction sets iCotton footprint in the U.S. market in-line with its strategy aimed at producing natural fiber-based hygiene products sold in Europe and exported internationally.
More information: iCotton Buys Hempress Hygienics
____________________________________________________________________________
Acquiring Company: Sviluppo Sostenibile
Acquired company: Magic
Date of Acquisition: May 2023
Comments: Sviluppo Sostenibile, a private equity fund specialized in investments in Italian SMEs and promoting ESG issues, managed by DeA Capital Alternative Funds SGR, a company of the Novara-based De Agostini Group, acquired a majority stake in Magic. Magic, founded in 1987, is a family-owned company based in Oleggio (NO) and active in producing and processing airlaid for a variety of applications.
More information: Private Equity Fund Acquires Majority Stake in Magic
____________________________________________________________________________
Acquiring Company: Fine Hygienic Holding
Acquired Company: Easy Brands
Date of Acquisition: April 2023
Comments: Fine Hygienic Holding (FHH), a manufacturer of hygiene paper products and long-term germ protection solutions, has acquired Easy Care for Cosmetics and New Easy for Cosmetics (together referred to as Easy), consumer goods companies based in Alexandria, Egypt.
More information: Fine Hygienic Holdings Acquires Easy Brands
____________________________________________________________________________
Merging Company: Hospeco Brands Group
Merging Company: Monarch Brands
Date of Merger: April 2023
Comments: Hospeco Brands Group, has merged with with Monarch Brands, wholesalers and manufacturers of microfiber, commercial laundry linen, institutional textiles, and wiping products. The move dramatically expands Hospeco Brands Group’s offering of wiping solutions and microfiber and adds complementary new lines to an already robust product mix.
More information: Hospeco, Monarch Brands Announce Merger
____________________________________________________________________________
Acquiring Company: Autoneum
Acquired Company: Borgers Automotives
Date of Acquisition: April 2023
Comments: Autoneum purchased the automotive business of Borgers, to expand its global market leadership in sustainable acoustic and thermal management of vehicles. Autoneum now operates 67 production facilities worldwide and employs around 16,100 people in 24 countries.
More information: Autoneum Finalizes Acquisition of Borgers Automotives
____________________________________________________________________________
Acquiring Company: Envoy Solutions
Acquired Company: GPMI
Date of Acquisition: March 2023
Comments: Envoy Solutions acquired two Arizona-based companies including GPMI Company, a manufacturer of home care, automotive and disinfecting wipes, both branded and private labels. The company's products are sold to major retailers and to distributors in the consumer market across the country.
More information: Envoy Solutions Acquires Two Arizona Based Companies
____________________________________________________________________________
Acquiring Company: Hospeco
Acquired Company: Innocore
Date of Acquisition: February 2023
Comments: Hospeco Brands Group purchased Innocore of Ontario, Canada, maker of Touch Point and Certainty Brands premoistened, nonwoven, surface and personal wipes, and other hand care products. The merger complements HBG’s wipes offering and expands the company’s North American footprint in the wipes market. The merger of the two companies is effective immediately.
More information: Hospeco Acquires Innocore
____________________________________________________________________________
Acquiring Company: Regent L.P.
Acquired Company: Alkegen Thermal Acoustical Solutions Business
Date of Acquisition: February 2023
Comments: Alkegen sold its Thermal Acoustical Solutions (TAS) business unit, which manufactures high performance acoustical and thermal management insulation components for the automotive and transportation industries, to Regent L.P. in February 2023. The divestment aligns with Alkegen’s long-term strategy to advance its growing portfolio of specialty materials dedicated to sustainability and human health.
More information: Alkegen to Sell Thermal Acoustical Solutions
____________________________________________________________________________
Merging Company: Mitsui Chemicals
Merging Company: Asahi Kasei
Date of Merger: February 2023 (announced)
Comments: Mitsui Chemicals and Asahi Kasei formed a plan to form a new integrated company combining their nonwovens businesses with a tentative start date in late 2023. This plan will be carried out through a corporation-type demerger enabling the establishment of the new integrated company pending the approval of authorities in Japan and Thailand, where the two companies have operations. The new company will be known as Mitsui Chemicals Asahi Life Materials.
More information: Mitsui Chemicals and Asahi Kasei to Combine Nonwovens Businesses
____________________________________________________________________________
Acquiring Company: Mann + Hummel
Acquired Company: M Filter Group
Date of Acquisition: January 2023
Comments: The Mann+Hummel Group has invested in M-Filter Group, one of the largest filter manufacturing companies in Northern and Eastern Europe with several production facilities in Finland and Lithuania. Since 1962, the company has specialized in different areas of filtration, including air ventilation filters, HEPA filters and oil/hydraulic filters for engines. While the brand Filterpak will complement Mann+Hummel's existing portfolios in commercial and residential HVAC, M-Filter will stand for a strong input in the OEM products for industrial and engine filtration.
More information: Mann + Hummel Invests in M-Filter Group
* This report will be updated.
