Setex Schermuly Sells Majority Stake To Elvaston Capital
Setex Schermuly, a supplier of automation and software solutions for the textile finishing industry has sold a majority stake in the company to Elvaston Capital Management GmbH.
Private equity partner Elvaston has set up Textile Solutions Holding GmbH, a company which will manage a portfolio of technology companies that ensure seamless integration along the textile value chain.
“The current owners and managing directors of Sextex, Christoph and Oliver Schermuly, will continue in their respective roles,” a Setex press release informed.
The German company said its looks at the future with great optimism due to this strategic step and is convinced that this initiative will further increase Sextex’s competitiveness and growth potential.