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Intermas buys Nortène brand to become leader in France |
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Intermas Nets is now the leading firm in the plastic mesh sector in France having recently bought the Nortène Jardinage France and Nortène Pro goodwill.
The acquisition of this brand strengthens the position of this Llinars-based company in the French market, in which it is considered a leader in the garden mesh segment, one of the divisions of this firm from the Vallès zone.
The company was already present in France through its subsidiary Celloplast. This presence was reaffirmed with the purchase of Nortène Technologies, based in Lille, in 2005. Now, with the acquisition of the Nortène brand and goodwill, Intermas strengthens its position as leader in the garden mesh segment. The brand, acquired for an undisclosed sum, had a turnover last year of 15 million euros.
The acquisition comes on top of the operations that Intermas is undertaking to become a European leader, envisaged in the strategic plan for the next few years. In its quest for the top spot in Europe, the company, founded in 1957 in Cardedeu, is in partnership with Banco de Sabadell, which, through the venture capital firm Aurica XXI, controls 20% of the capital.
Through this expansion plan the Llinars-based company expects to double its turnover over the next few years to around 300 million euros. Last year, the company achieved a turnover of 160 million euros, and this financial year this figure is expected to increase to 165 million. In addition to the purchase of the goodwill in France, the company acquired all of the capital of the Seifil Percan firm, based in Sant Antoni de Vilamajor (of which it previously controlled 50%), early this year, and recently opened a subsidiary in Hungary.
The company plans to double its size both by growing its ordinary activity and via acquisitions such as the one just formalised. They are acquisitions that fall within the framework of its activity sectors: gardening, packaging, agriculture, civil and industrial engineering, aquaculture and consumer construction. The growth is focused on Europe and is aimed at increasing productivity.
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atrás