The fabric of success
BontexGeo is the European market leader in geotextiles. Though the company name is new and therefore relatively unfamiliar, its brands Bontec and Tipptex have been well-known in the civil engineering industry for the past 30 years. The geosynthetics offer a large range of woven and nonwoven geotextiles made from raw materials including polypropylene and polyethylene. Production takes place in two facilities, in Belgium and Hungary. The products are widely used in civil engineering for separation, filtration, reinforcement, drainage and protection. The company provides employment to some 200 people.
BontexGeo is a former division of UK-listed Low & Bonar PLC, a company that produces advanced, high-performance materials from polymer-based yarns and fibres. However, in 2019 the parent company decided that the division’s activities were no longer core. In September 2019 Nimbus offered a very quick and certain deal in the carve-out of BontexGeo from its former owner and named the newly created company BontexGeo. The carve-out has enabled the balance sheet to be restructured in such a way that BontexGeo now has a healthy balance sheet and profit level, allowing the company to focus on growth and further streamlining the business. Nimbus and BontexGeo’s management have a strong belief in the potential of the company.
Nimbus was actively involved in the carve-out and provides hands-on support in several projects, including temporarily fulfilling the finance director role. Together with the management, Nimbus is working on growth and improvement plans and is considering additional investments in the production facilities in Hungary to further improve the efficiency. In addition, Nimbus is carefully reviewing sales, with an aim to encourage volume growth. The foundations for a promising future for BontexGeo are already being laid.