Intermas Nets continues its international road map. The Catalan manufacturer of extruded plastic nets just signed the purchase of 70% of the Italian family business Viscoret, which operates in the same industry.
The transaction will enable the group led by Josep Torres to have a factory and a sales network in Italy, a market that the company was not present directly. Intermas Nets use to export to the Alpine country four million euros per year.
Despite the economic crisis, the group of Llinars del Vallès is already working on the acquisition of another European company in the industry, which could materialize next year. “We continue our strategy of international presence and increasing our size,” says the CEO of the company, 20% owned by Aurica XXI.
Based in Lomagna, located 40 kilometers from Milan, Viscoret turnover nine million euros per year and, last year, had an EBITDA of 750,000 euros. It specializes in plastic nets use on gardening, agriculture and protection systems for the construction sector.
The company earn 80% of its revenue in the Italian market and the remaining 20% are exports, mainly to countries in Eastern Europe. “Here is one of the keys of the purchase,” says Torres, referring to that the acquisition will strengthen the presence of Intermas in countries like Hungary and Poland.
Intermas Nets has agreed with the founder of the company the option to buy an additional 30% stake in late 2013. Viscoret employs 35 people and has a production plant of 6,500 square meters with 26 plastic extrusion lines. In its factory in Llinars del Vallès, Intermas has a hundred production lines. The Italian company will improve some production processes and optimize the efficiency of current costs.
New plant in Lille
Intermas Nets expects to close 2010 with an increase in sales of 5% to reaching 167 million euros. The company, which aims to go public when doubled in size recorded an EBITDA of 13 million, slightly below 2009 figures, as a result of the rising of commodity prices.
In 2011 Intermas plans to move its plant in Lille (France) to a new polygon located on the outskirts of the town, since the plant is now in the center of the city. The new factory will be ready in August, and will have 9,000 square meters and an will involve an investment of six million euros. This cost will not be assumed by Intermas, which will occupy the plant renting.
With this same formula of renting, the group have also recently expanded into 12,000 square meter logistics warehouse that in Ballée, also in France, to support the growth of the company in the French market, which already provides 45% of revenues . Intermas employs 635 people and has subsidiaries in Hungary and Poland.
