Albéa has announced the acquisition of 100% of Covit SL, manufacturer of metal parts, from the private equity fund PHI Industrial. Covit is a leading company in the drawing, anodizing, assembly and decoration of metal parts for packaging products, based in Torelló, Spain. He has extensive know-how in stamping, anodizing and color matching, as well as experience mainly in dispensing systems. The company was founded in 1979. It employs 200 people and achieved sales of approx. € 20 million in 2017.
This acquisition will provide Albéa with global metal capabilities and expertise. “With Covit, we are building a metal business with facilities in Torelló (Spain), Waterbury, CT (USA) and Shanghai (China), which will offer a wide range of products and technologies, with global technical expertise, global reach and a strong commitment to Corporate Social Responsibility ", explains François Luscan, president and CEO of Albéa. Alexander Wit, Managing Partner of PHI Industrial commented: "We believe Albéa is an ideal owner for the business as it will allow Covit to be part of a truly global business and play an important role in Albéa's metal strategy."
