Plixxent: Acquisition of Italian PU-based systems producer Tagos
Plixxent Holding GmbH announced the acquisition of Tagos S.r.l., an Italian producer of polyurethane‐based systems, catalysts and coatings, targeting various end-markets such as transportation, hospitality, and construction. The company was founded in 1965 and is based in Busto Arsizio near Milan, Italy, and has a leading position in products for cryogenic insulation materials. Financial details of the transaction were not disclosed.
Plixxent said with the acquisition the company continues its growth path as well as expansion of its production footprint and technological capabilities. This is the second acquisition that the company has made this year. In April 2021, Plixxent announced the acquisition of MRi Polytech, a leading polyurethane and CASE (coatings, adhesives, sealants and elastomers) player based in the United Kingdom.
Plixxent said it continues its strategic rationale to strengthen its positioning with targeted acquisitions in complementary geographies and with complementary technological capabilities. This acquisition enables the company to increase its operational footprint in Italy and strengthens its position in one of the most attractive üolyurethane markets. In addition, Tagos will also benefit from Plixxent’s sales structure across other European countries.
Dr. Jörg Schottek, CEO of Plixxent, said: “Tagos is an outstanding business and perfect fit for our company. We believe that Plixxent will be an excellent home for Tagos. We have a very close relationship with the former owners, who will remain on board, and look forward to building on that successful foundation together. The combined group will evolve into a stronger partner to its clients, offering a unique and broad range of comprehensive products and solutions. This transaction represents another strategic step forward in strengthening our position as the leading independent supplier of polyurethane-based solutions in Europe.”
Marco Monzeglio and Daniele Monzeglio, former owners and MDs of Tagos, said: “After 55 years of activity as an independent system house, we at Tagos are happy to join Europe’s leading independent system house, and we are excited by the incredible opportunities of growth when merging our knowledge of the polyurethane chemistry with Plixxent’s market power, scientific knowledge and dedication to excellence.”
Plixxent is a provider for polyurethane systems solutions in Europe. The company, based in Hamburg, has approximately 300 full-time employees at six locations and covers the entire application range of PU systems and CASE. The company serves a diverse range of end-markets, including construction, household devices, furniture and automotive as well as high-end performance floor surfaces. The group was formed out of four European system houses that parted ways with their former parent company Covestro in the summer of 2019 and is backed by global private equity firm H.I.G. Capital.