The Vitrulan group consists of three divisions Vitrulan Textile Glass GmbH in Marktschorgast (Germany), Vitrulan Technical Textiles GmbH in Haselbach (Germany), and Vitrulan Composites Oy in Mikkeli (Finland). The group’s product portfolio includes wallpapers (classic and innovative wall and ceiling coverings made of glass yarn), technical textiles and composites (textile-technical solutions for building, reinforcing, insulating and sealing) as well as heating systems (innovative heating solutions based on infrared panel heating).
In 2016, ADCURAM acquired 90 percent of Vitrulan shares as part of a succession plan. ADCURAM provided operational support from the very beginning by optimizing production and logistics processes, strengthening business development in the areas of innovation and customer acquisition, and gradually focusing on innovative USP products in the area of decorative wall products. ADCURAM also supported the medium-sized ‘hidden champion’s’ organic growth: With V4heat, a new subsidiary company was founded to market an innovative infrared heating fabric. In addition, ADCURAM also invested in new plants and new fields of application for the individual business units, particularly for Vitrulan Technical Textiles. With the acquisition of Finland-based Vitrulan Composites from Ahström-Munksjo another international location became available, which also allowed Vitrulan to access new attractive sales markets by systematically expanding its core competencies to include the processing of glass fibers on multiaxial fabrics and the production of high-quality carbon fabrics. Thus, Vitrulan managed to establish itself as a supplier in new sectors such as the growing market for wind energy. Today, the group employs a staff of approximately 500 and revenues have recently increased to around EUR 90 million.
Sector: Textile glass (wall coverings made of woven textile glass and glass fleece), glass and carbon textiles for technical applications sectors
Location: Marktschorgast (Germany), Haselbach (Germany), Mikkeli (Finland)
Annual Revenues: EUR 90 million
Time of Investment: 30th of November, 2016; add-on acquisition of the location in Mikkeli on the 31st of December, 2019
Seller: Family entrepreneur acting as managing shareholder (Vitrulan); Ahlström-Munksjö Oyi (Mikkeli location)
Transaction: Succession plan; 90 percent of shares (Vitrulan); corporate carve-out (Mikkeli location)