{"id":39695,"date":"2021-02-10T16:34:15","date_gmt":"2021-02-10T13:34:15","guid":{"rendered":"http:\/\/www.textilegence.com\/?p=39695"},"modified":"2021-02-10T16:35:26","modified_gmt":"2021-02-10T13:35:26","slug":"vandewiele-becomes-the-new-owner-of-savio","status":"publish","type":"post","link":"https:\/\/www.textilegence.com\/en\/vandewiele-becomes-the-new-owner-of-savio\/","title":{"rendered":"Vandewiele becomes the new owner of Savio"},"content":{"rendered":"<p style=\"text-align: justify;\">An important sale was realized in the textile industry. Alpha Private Equity concluded an agreement for the sale of 100% of the spinning machinery <a href=\"https:\/\/www.savio.group\/\" target=\"_blank\" rel=\"noopener\">specialist<\/a> Savio Group to the Belgian company Vandewiele. With this <a href=\"https:\/\/www.textilegence.com\/en\/category\/topical\/\" target=\"_blank\" rel=\"noopener\">agreement<\/a>, Savio has become a member of <a href=\"https:\/\/www.vandewiele.com\/en\" target=\"_blank\" rel=\"noopener\">Vandewiele<\/a>, which has a rich brand and product portfolio for different textile processes, especially carpet and velvet weaving machines. The acquisition is expected to be completed in the spring of 2021. On the other hand, the financial terms of the agreement were not disclosed to the public. After the acquisition, Alexander Zschokke will continue as President of the Savio Group.<\/p>\n<p style=\"text-align: justify;\">Commenting on the purchase agreement, Vandewiele CEO Charles Beauduin said; \u201cWe are extremely proud to welcome the Savio Group with its strong tradition and technology in our Group. The joining of our technological capabilities, R&amp;D and industrial operations will allow us to grow strongly in the next few years\u201d. Vandewiele aims to benefit many customers by adding Savio&#8217;s organization to the group.<\/p>\n<p style=\"text-align: justify;\">Alexander Zschokke, Chairman of the Savio Group said; \u201cReceiving such strong interest from important players in this challenging period is a recognition of Savio&#8217;s strategic value. In the long-term, being part of the Vandewiele Group will preserve our entrepreneurial culture focused on innovation, operational excellence and commercial development\u201d.<\/p>\n<p style=\"text-align: justify;\">Paolo Magni, Partner of Alpha Private Equity, commented; \u201cSince the acquisition, we have worked closely with Management to support them in consolidating Savio\u2019s technological leadership, leveraging on sizable R&amp;D investments, successful launch of innovative products and execution of strategic M&amp;A transactions, creating a world-leading position for Savio as a result\u201d.<\/p>\n<h2 style=\"text-align: justify;\"><strong>A close-up to Savio<\/strong><\/h2>\n<p style=\"text-align: justify;\">Founded in 1911 and headquartered in Pordenone (Italy), Savio Group have operations in Italy, China, India, Belgium, Germany, Switzerland and Czech Republic. Group portfolio includes winding machines and quality control devices for the textile industry. In 2019 Savio reported consolidated revenues of 270M EU. The transaction aims at strengthening Savio\u2019s international and industrial development, exploiting significant synergies, both from a commercial and operational standpoint.<\/p>\n<figure id=\"attachment_39693\" aria-describedby=\"caption-attachment-39693\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-39693 size-full\" src=\"https:\/\/www.textilegence.com\/wp-content\/uploads\/2021\/02\/savio-detail-1.jpg\" alt=\"Vandewiele becomes the new owner of Savio\" width=\"1200\" height=\"675\" srcset=\"https:\/\/www.textilegence.com\/wp-content\/uploads\/2021\/02\/savio-detail-1.jpg 1200w, https:\/\/www.textilegence.com\/wp-content\/uploads\/2021\/02\/savio-detail-1-768x432.jpg 768w, https:\/\/www.textilegence.com\/wp-content\/uploads\/2021\/02\/savio-detail-1-696x392.jpg 696w, https:\/\/www.textilegence.com\/wp-content\/uploads\/2021\/02\/savio-detail-1-1068x601.jpg 1068w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><figcaption id=\"caption-attachment-39693\" class=\"wp-caption-text\">Vandewiele becomes the new owner of Savio<\/figcaption><\/figure>\n<h2 style=\"text-align: justify;\"><strong>A close-up to Vandewiele<\/strong><\/h2>\n<p style=\"text-align: justify;\">Founded in 1880 in Kortrijk, Belgium Vandewiele is a world leader in Mechatronics solutions to serve textile and electronics customers around the world. The relentless focus on innovation and long-term vision will allow further growth for both companies in the new digital age. Vandewiele reported 2019 revenues of 370M EU with over 3000 employees. Its major plants are located in Belgium, China, Italy, France, Sweden and Germany.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An important sale was realized in the textile industry. Alpha Private Equity concluded an agreement for the sale of 100% of the spinning machinery specialist Savio Group to the Belgian company Vandewiele. With this agreement, Savio has become a member of Vandewiele, which has a rich brand and product portfolio for different textile processes, especially [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":39691,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9859],"tags":[10369,12450],"class_list":{"0":"post-39695","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-topical","8":"tag-textile-news-en","9":"tag-topical"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Vandewiele becomes the new owner of Savio - Textilegence<\/title>\n<meta name=\"description\" content=\"Alpha Private Equity concluded an agreement for the sale of 100% of the spinning machinery specialist Savio Group to the Belgian company...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.textilegence.com\/en\/vandewiele-becomes-the-new-owner-of-savio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vandewiele becomes the new owner of Savio\" \/>\n<meta property=\"og:description\" content=\"An important sale was realized in the textile industry. Alpha Private Equity concluded an agreement for the sale of 100% of the spinning machinery\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.textilegence.com\/en\/vandewiele-becomes-the-new-owner-of-savio\/\" \/>\n<meta property=\"og:site_name\" content=\"Textilegence Magazine and Digital Platform\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TextilegenceMagazine\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/TextilegenceMagazine\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-10T13:34:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-02-10T13:35:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.textilegence.com\/wp-content\/uploads\/2021\/02\/savio-textilegence.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Engin Buz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/textilegence\" \/>\n<meta name=\"twitter:site\" content=\"@textilegence\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Engin Buz\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/www.textilegence.com\\\/en\\\/vandewiele-becomes-the-new-owner-of-savio\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.textilegence.com\\\/en\\\/vandewiele-becomes-the-new-owner-of-savio\\\/\"},\"author\":{\"name\":\"Engin Buz\",\"@id\":\"https:\\\/\\\/www.textilegence.com\\\/en\\\/#\\\/schema\\\/person\\\/46ccc7bfc34edbc7d46b6b189f88849f\"},\"headline\":\"Vandewiele becomes the new owner of Savio\",\"datePublished\":\"2021-02-10T13:34:15+00:00\",\"dateModified\":\"2021-02-10T13:35:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.textilegence.com\\\/en\\\/vandewiele-becomes-the-new-owner-of-savio\\\/\"},\"wordCount\":424,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.textilegence.com\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.textilegence.com\\\/en\\\/vandewiele-becomes-the-new-owner-of-savio\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.textilegence.com\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/savio-textilegence.jpg\",\"keywords\":[\"textile news\",\"topical\"],\"articleSection\":[\"Topical\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.textilegence.com\\\/en\\\/vandewiele-becomes-the-new-owner-of-savio\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.textilegence.com\\\/en\\\/vandewiele-becomes-the-new-owner-of-savio\\\/\",\"url\":\"https:\\\/\\\/www.textilegence.com\\\/en\\\/vandewiele-becomes-the-new-owner-of-savio\\\/\",\"name\":\"Vandewiele becomes the new owner of Savio - 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