The Delta Plus Group, a major player in the market for Personal Protective Equipment (PPE), continues its proactive policy of geographical diversification and announces the signing of a strategic partnership in the North American market with Elvex, a company based in the United States and specialised in head protective equipments.
This partnership agreement results in the acquisition, by the Delta Plus Group, of 50% of Elvex's shares. This operation enables the Delta Plus Group to establish itself in North America, the leading market for PPE globally, and to strengthen its position in the high value added segment of head protection.
For over 30 years, Elvex, whose headquarters are in Connecticut, has marketed a comprehensive range of head protection products, both on the local market (75% of sales) and in sixty countries worldwide. Elvex achieved a turnover of 14 million dollars in 2014 (+11% compared to 2013).
The company has doubled its sales since 2010.
Furthermore, Elvex has recorded slightly higher levels of profitability than the Delta Plus Group.
This investment by the Delta Plus Group will allow Elvex future access to the entire Delta Plus offering, and to propose, in addition to its head protection products, a complete range of hand, body, foot and fall protection products on the North American market.
This complementary product offering as well as the sharing of support services must allow rapid growth of the company and the embodiment of synergies.
After the acquisition and successful integration of Eslingar in Argentina in 2011 and Pro Safety in Brazil in 2013, the Delta Plus Group, completes, through this partnership with Elvex, its presence on the American continent, a dynamic and growing market for Personal Protective Equipment.
In order to capitalise on recent successful experiences in this area, the Delta Plus Group has planned to integrate the stake in the company Elvex through close cooperation with the current management team in the US, which will be reinforced locally by the arrival of a manager from the Group.
After a year of strong growth in revenues in 2014 (+ 8.4% compared to 2013), the Delta Plus Group continues, through this partnership, with its international development, and has established itself as an active player in the concentration the worldwide market for PPE.
In addition, this investment allows the Delta Plus Group to strengthen the proportion of its business made in Dollars and contributes to a balanced distribution of the Group's exposure to the current currency fluctuations.
This operation supports the Delta Plus Group's goal, which anticipates a growth in sales in 2015, particularly bolstered by the increasing activity of its subsidiaries outside Europe.