M&A Deal Summary

Groupe Solmax Acquires Propex Operating

On November 17, 2021, Groupe Solmax acquired furniture company Propex Operating

Acquisition Highlights
  • This is Groupe Solmax’s 1st transaction in the Furniture sector.
  • This is Groupe Solmax’s 2nd transaction in the United States.
  • This is Groupe Solmax’s 1st transaction in Tennessee.

M&A Deal Summary

Date 2021-11-17
Target Propex Operating
Sector Furniture
Buyer(s) Groupe Solmax
Deal Type Add-on Acquisition
Advisor(s) Solomon Partners (Financial)
Stroock & Stroock & Lavan LLP (Legal)

Target

Propex Operating

Chattanooga, Tennessee, United States
website
Propex Operating is a manufacturer of the primary carpet backing and secondary carpet backing. The Company is also a producer of woven and non-woven polypropylene fabrics for use in furniture, bedding, automotive, geotextile, and other industrial fabrics applications. Propex Operating was founded in 1884 and is based in Chattanooga, Tennessee.

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Buyer(S) 1

Buyer

Groupe Solmax

Varennes, Quebec, Canada

website


Category Company
Founded 1981
Sector Environmental
DESCRIPTION

Groupe Solmax is a manufacturer of geomembranes liners and offers containment solutions. Manufactured from Canada, USA, Malaysia, and Chile the company's products are sold in over 60 countries. Solmax was formed in 1981 and is based in Varennes, Quebec.


DEAL STATS #
Overall 3 of 3
Sector (Furniture) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Tennessee) 1 of 1
Country (United States) 2 of 2
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-07 TenCate Geosynthetics

Hengelo, Netherlands

TenCate Geosynthetics is a provider in developing solutions and systems for infrastructure in transportation, building sites, water management, natural resources, and environmental market applications, and is also active in agricultural, horticultural, recreational, and other industrial applications. The company value is delivered to the market through synthetic nonwovens, wovens, geogrids, geotextile tubes and other products, and through the knowledge and experience that support these applications. TenCate Geosynthetics is based in Hengelo, Netherlands.

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