Deal Information:
-Sector: Textile Logistics
-Country: Spain
-Sellers: Company founders
-Entry Date: January 2015
-Exit Date: December 2016
Company Overview
Founded in 2000, Think Textil provides textile logistics and handling services to Inditex. The company offers integrated outsourcing logistic and operational services for the main textile groups in Spain. The company’s activity is focused on three main business lines: logistics & storage, finishing & handling, and outsourcing logistic processes
Think Textil operates four warehouses in Spain with a total surface area of over 55,000 m2, employing 300 FTE’s during its valley season and an additional 800 people during peak seasons
Deal Highlights
SWC acquired this asset in January 2015 from the two founders, aiming to develop the business, leveraging the high growth of Think Textil’s main client (Inditex, revenue CAGR 10%), while diversifying the customer portfolio
Prior to SWC’s acquisition, the company worked with spot contracts rather than long-term agreements. SWC focused on commercial development through long-term relationships and securing contracts (e.g. medium-term contracts with El Corte Ingles) and guarantees with customers. Also, a pre-deal agreement with Think Textil’s main client (Inditex) to continue with the company as a supplier
SWC introduced operational performance improvement actions, notably through tenders to optimize purchases and through working capital monitoring and optimization
SWC stake was sold in December 2016 to an industrial investor