ALPEX

MANUFACTURE OF TECHNICAL TEXTILES

Alpex Protection, which became the AlMa Group following the acquisition of NT Majocchi in Italy, is one of the European leaders in the design and manufacture of technical textiles through lamination/bonding and coating.

Thanks to its mastery of these technologies, the Group, which has nearly 100 employees, develops high-performance composites and a range of highly technical fabrics intended mainly for major government agencies (firefighters, police, armed forces), as well as for the fashion/luxury market.

Led by Laurent Cogez, the Group is based in Saint-Chamond (Loire), in Italy (NT Majocchi, acquired in 2022) and in the United States since 2023. AlMa generates more than 80% of its revenue internationally.

KEY STRENGTHS

AlMa holds a leading position in the European market for waterproof-breathable and flame-retardant technical textiles, with a comprehensive and innovative offering, in niche markets driven by growing investment by major European government agencies in security and defence.

The Group also has significant growth potential in the United States and benefits from substantial synergies between its various entities.

Its production facilities are efficient and flexible.

KEY MILESTONES

Innovafonds acquired a stake in Alpex Protection in September 2021, as part of an LBO transaction enabling the reorganisation of the shareholding structure around the existing management team.

The Group has experienced very dynamic growth, with revenue rising from €18M in 2021 to €51M in 2023.

Innovafonds has supported the Group’s growth strategy along three main lines:

• ORGANIC GROWTH : continued development in the buoyant government-agency markets and creation of a US subsidiary to accelerate development in the United States
• OPERATIONAL STRENGTHENING : structuring of the organisation and the Executive Committee
• EXTERNAL GROWTH : identification and review of external growth opportunities and completion, as early as March 2022, of the acquisition of the Italian company NT Majocchi.