Savio Acquired a Controlling Interest in Yarn Splicing Manufacturer Mesdan

Italy-based itema Spinning business unit Savio Macchine Tessili S.p.A. — with support from Alpha, a Europe-based private equity fund that also has a majority interest in Savio — has acquired a controlling interest in yarn splicing and textile quality testing equipment manufacturer Mesdan S.p.A., also based in Italy. The value of the transaction is more than 20 million euros. 

Savio, founded in 1911, has 1,469 employees worldwide and reported a 460 million-euro turnover in 2011. The company specializes in yarn finishing machinery and quality-control systems and has operations in Italy, Switzerland, Belgium, Germany, United Kingdom, United States, China and India. 

Mesdan, founded in 1952, has 84 employees and in 2011 reported nearly 40 million euros in turnover. It has received several patents relating to air and water joint technology. With operations outside of Italy including a joint venture in China and a subsidiary in India, the company will remain autonomous in its relationships with its customers and in the markets it serves.