Sympatex Technologies, the German manufacturer of membranes, laminates and textiles used in outdoor apparel and footwear, is being acquired by Italian textile supplier Pidigi S.p.A. The sale comes as Sympatex filed for insolvency at the Munich Local Court in Germany on January 22.
The acquisition is scheduled to be effective on June 1.
Pidigi, based in Verona, develops, sources and distributes raw materials and components for the footwear, leather goods and technical sportswear industries.
As part of the asset deal, Pidigi is acquiring the core assets of. Sympatex and intends to continue business operations under the Sympatex brand. At the Unterföhring site near Munich, 21 jobs and the apprenticeships of four trainees will be retained. The international locations in France, China, and Hong Kong, as well as its Korean sales office, will also be maintained.
As part of the structural realignment, 25 employees at the Unterföhring site will be made redundant in May, with effect from the end of August. Around 20 employees have left the company of their own accord during the provisional insolvency administration phase.
Kim Scholze, who took over Sympatex as sole managing director during the insolvency proceedings and led it through them, will leave the company once the transaction has been completed.
Giorgio De Gara, owner and managing director of Pidigi, said in a statement that the transaction marks a milestone in the family business’ continued development.
“The acquisition of Sympatex is an important strategic step for us, building on a long-standing and trusting partnership,” said De Gara. “We have known the company, its technologies and the people behind them for many years and are delighted to now welcome Sympatex as part of the Pidigi family. Together, we aim to further develop Sympatex’s international business in a targeted manner — from performance laminates and tapes for footwear applications to technical solutions for the public sector, workwear and apparel markets. By combining Sympatex’s technological expertise with Pidigi’s global market presence and operational strength, we are creating a strong foundation for further growth and new market opportunities. It is important to us to preserve Sympatex’s valuable technological know-how and the Unterföhring site, and to offer employees long-term prospects.”
Image courtesy Sympatex
