Albéa acquires Covit S.L. from PHI Industrial private equity fund

Published: 7-Mar-2018

Albéa announces the acquisition of Covit S.L, a leader in the drawing, anodising, assembly and decoration of metal parts for packaging products, based in Torelló, Spain.

Covit owns an extensive know-how in stamping, anodising and colour matching as well as years of experience primarily in dispensing systems.

The company was founded in 1979. It employs 200 people and achieved sales of approximately €20 million in 2017.

This acquisition will provide Albéa with global metal capabilities and expertise while building a strong, global supplier of metal parts. Metal is a critical asset in the fragrance and cosmetics market where packaging often combines metal and plastic parts.

“With Covit, we are building a metal business with facilities in Torelló (Spain), Waterbury, CT (USA) and Shanghai (China) that will offer a wide range of products and technologies, world-class technical expertise, global reach and a strong commitment to Corporate Social Responsibility” explains François Luscan, Albéa’s President & CEO.

Alexander Wit, Managing Partner of PHI Industrial commented: “We are proud of the work the Covit team has achieved over the past 7 years in order to become a leading manufacturer of metal packaging solutions. We believe that Albéa is an ideal owner for the business as it will allow Covit to be part of a truly global business and play a significant role in Albéa’s metal strategy.”

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