Tavex Europe changes owner again. About a year ago German Aurelius fund had acquired Tavex Europe from the splitting of the old global Grupo Tavex SA among three owners, according to specific geographical market areas.
Tavex Europe was just bought back by a pool of Spanish shareholders including Manuel Rein, former investor of Tavex in the years 1994-1995. As confirmed by the company, Rein is owning a minority quota of Tavex Europe and is the only shareholder with some background in the textile market.
In order to head up these new challenges, the new investors have appointed Luis Aguiar Pacheco as CEO, the former CEO of Tetra Pack Iberia and subsequently of Warehouse Automation Iberia.
Luis Aguiar Pacheco commented: “Tavex Europe wants to continue the restructuring undertaken by Aurelius and increase business. We want to stay focused on promoting R&D activities according to four development vectors: tradition, coming from this company’s 170 history of textile manufacturing; technology as some of our fabrics incorporate some of the latest technology; sustainability as we are highly committed with environmentally friendly practices such as employing BCI cotton and ecofriendly dyeing and finishing processes; and wellness since we offer fabrics that help wearers feel better.”
The company will continue manage its productive plants in Morocco, its offices in Madrid, in Valencia and in Bergara, where Tavex was founded in 1846. It has currently an annual capacity of over 15 million meters of fabrics and a commercial presence in over 50 countries with a consolidated background in the production of denim and flat fabrics.
Tavex Europe’s yearly sales are estimated at around €45 million while Grupo Tavex SA’s estimated sales in 2014, before the group was split in three parts, were about €230 million.