M&A Deal Summary

Solmax Acquires Propex Operating

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

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

M&A Deal Summary

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

Target

Propex Operating

Chattanooga, Tennessee, United States
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

Solmax

Longueuil, Quebec, Canada

Category Company
Founded 1981
Sector Environmental
DESCRIPTION

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 founded in 1981 and is based in Longueuil, Quebec.


DEAL STATS #
Overall 3 of 3
Sector: Furniture M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
State: Tennessee M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2021 M&A 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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