The AURELIUS Group (ISIN DE000A0JK2A8), the listed mid-market pan-European investor, has agreed a binding deal to acquire the EMEA Crafts business of Coats plc, the world\u2019s leading industrial thread and consumer textile crafts business.<\/p>\n
Coats\u2019 EMEA Crafts business is the number one player in European textile crafts with a heritage dating back more than 250 years. The acquisition includes the German headquarters and warehouse facilities as well as the Hungarian production site. In 2013, around 900 employees generated revenues of US$150.8 million across 18 European countries. The transaction is subject to a limited number of conditions usual for this type of transaction and is expected to complete in the second quarter of 2015.<\/p>\n
The sale will enable Coats plc to focus on further growing its successful global Industrial and profitable Americas Crafts businesses. AURELIUS is experienced in complex corporate carve-out situations and focus on businesses with operational improvement potential. AURELIUS\u2019 operational experts will be dedicated to give the EMEA Crafts business the undivided attention it requires, and will support the existing management team with the move towards an independent and more flexible enterprise. AURELIUS will supply its highly specialised operational improvement capabilities to the company\u2019s current operations, with a core focus on the long-term strategic development of the business.<\/p>\n
Ownership of Coats EMEA Crafts brands including Schachenmayr, Patons, Regia, Rowan yarns, Milward, Puppets, Corona, Self Casa, Tre Cerchi and Royal Paris will pass to the new owners on completion of the sale. AURELIUS will sell other Coats-owned brands in Europe under licensing and distribution agreements, which will also cover the \u2018Make it Coats\u2019 brand and European Coats Crafts website content.<\/p>\n
Paul Forman, Group Chief Executive, Coats plc said: \u2018The agreement to sell EMEA Crafts follows a comprehensive review of the business, including its strategic fit within Coats. The decision to sell EMEA Crafts better positions Coats for future profitable growth and allows us to focus management attention on our high performing global Industrial and strong Americas Crafts businesses.<\/p>\n
\u2018I have no doubt that the business will be very successful under the stewardship of AURELIUS and the leadership of the experienced management team.\u00a0 We will continue to work closely with the EMEA Crafts business and the team to ensure a smooth and successful transition and positive cooperation in the future.\u2019<\/p>\n
Dr Dirk Markus, CEO, AURELIUS AG, said: \u2018The acquisition of Coats\u2019 EMEA Crafts business is a classic AURELIUS transaction, as it is a corporate carve-out with a wide European footprint. AURELIUS and its operational experts will not only focus on swiftly completing the highly complex carve-out in 18 jurisdictions but also support the management team in unleashing EMEA Crafts\u2019 full potential.\u2019<\/p>\n
Christine Bauer, Regional Chief Executive, EMEA Crafts added: \u2018We are happy to have found in AURELIUS the right partner, who will support us in the future growth of the company with its strong brand portfolio of high quality products. The entire management team and I are looking forward to driving the EMEA Crafts business towards a successful stand-alone future.\u2019<\/p>\n
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