Sioen Industries NV, a leading producer of technical textiles, fine chemicals and high-tech protective clothing, has announced the acquisition of the Ursuit Group of companies, a Finnish manufacturer of dry suits for diving, fishing and professional use in an extreme environment.

The transaction was worth EUR 22.4 million, the company reports. In addition to this, Sioen has acquired real estate for a total value of EUR 3 million.

Ursuk Oy (operating under the brand name Ursuit) is a company with headquarters in Finland and production entities both in Finland and Estonia. Ursuit is active in the development, design, production, marketing and distribution of state of the art dry suits for diving, fishing and professional use in an extreme environment.

New opportunities

Ville Rantala, the current owner and driving force behind the success of Ursuit, says he is enthusiastic about joining forces with Sioen Industries, as this opens a lot of new opportunities for the whole team.

“It is our common goal to further invest in the worldwide development of the Ursuit professional brand. This agreement offers Sioen the opportunity to enter the Scandinavian market with a professional and experienced team to promote the Sioen portfolio of products,” he explained.

Sioen is has announced that Mr Rantala has agreed to continue to manage and develop the business as a member of the Sioen Industries group. Ursuit group of companies forecasts for 2016 an EBITDA of approximately EUR 2.6 million. The company’s business plan shows a double-digit growth rate for the coming years.

Sioen Industries

Sioen Industries has an extensive portfolio of products and activities, which include spinning, weaving and coating, manufacturing of garments, production of fine chemicals and processing of technical textiles.

Sioen believes that vertical and horizontal integration, diversification and permanent growth provide the company with a major technical advantage and better R&D. The company’s main focuses are on customised products, high end, specialised products, recyclable/recycled products, integrated features, and intelligent textiles.

The Sioen Group manages the complete industrial chain, from yarn to finished product. One of the brands of Sioen is Mullion, specialised in maritime safety suits and lifejackets. The Mullion products are an addition to the extensive Ursuit product portfolio.

www.sioen.com