ADDEV Materials Acquires PARAFIX

ADDEV Materials Acquires PARAFIX Parafix Tapes and Conversions Ltd has announced its integration into the ADDEV Materials Group. Founded in 2006, ADDEV Materials generated revenue of EUR 180 million in 2022 and is an international company with 700 employees across 15 industrial facilities in Europe and North America. ADDEV Materials operates in two main business areas: the conversion of technical films, tapes and foams, and the specialized packaging of surface treatment products, adhesives and paints. ADDEV Materials aims to optimize industrial performance for its customers in the Aerospace & Defence, Mobility & Power, Health & Hygiene, and Industries & Construction sectors. For Parafix, this partnership with ADDEV Materials Group aligns fully with the strategy of developing high-value conversion services and providing adhesive solutions tailored to the most demanding industries. ADDEV Materials President Pascal Nadobny commented on the acquisition: "We are very pleased to welcome Parafix into our group. This acquisition is fully aligned with our strategy to develop high-value conversion services and provide adhesive solutions tailored to the most demanding sectors such as healthcare." Parafix General Manager Steve Barwick stated: "This partnership with ADDEV Materials Group represents a genuine opportunity for Parafix to bring new products and expertise to our existing customer base and further promote our die-cutting solutions across Europe." The acquisition will strengthen Parafix's die-cutting capabilities, reinforce long-standing relationships with world-leading adhesive suppliers, and enable customers to access a broader range of product solutions. Parafix will continue to provide customers with the best possible support for their specific business needs by enhancing its supply, industrial and sales capabilities. Parafix will continue to be managed by its current management team and internal organization, with contact details remaining unchanged. The company's former owner Mike Punter will remain involved in the business in a Senior Consultant role at ADDEV. Source