Hand protection specialist Unigloves has announced the acquisition of a 50% equity interest in Spain-based PPE manufacturer Nitrex, with future options to acquire the remaining interest.
The announcement marks a strategic step forward in Unigloves’ ambition to be ‘the leading and most responsible hand protection manufacturer in the world’.
Nitrex, now known as UG Nitrex, is an established and renowned name in industrial hand protection. The acquisition by Unigloves significantly expands the range of hand protection solutions provided by Unigloves, enabling “instantaneous ownership” of a product portfolio that extends to over 100 industrial gloves.
It also provides Unigloves with immediate market presence in Spain and neighbouring countries such as Portugal and France, strengthening the Group’s downstream distribution business in Southern Europe.
The Nitrex business has been and will continue to be run on a day-to-day basis by Alvaro Artaza and his team, led by Maximino Martinez in Spain and Portugal, and Francois Vignal in France, with the support of the Nitrex and Unigloves teams.
Alvaro Artaza said: “This is a new step to make Unigloves-Nitrex the best partner in the hand protection sector. We are excited about the opportunities this venture will bring to our companies and the solid and long-term project we are building together”.
Chris Wahlers, MD of Unigloves UK welcomed the news, highlighting it as a key development in the Group’s growth ambitions. He said: “We are absolutely delighted to be working with Alvaro, Max, Francois and the whole UG-Nitrex team, and to have immediate access to UG-Nitrex’s renowned hand protection range, as well as ownership and control over all relevant licences, certifications, and trademarks which will only accelerate the pace of our product development over the coming years.”
“In addition to the products themselves - which will ensure even greater choice for our customers across the UK and Europe, the acquisition also brings UG Nitrex’s local warehousing and logistics infrastructure on board, providing a fantastic opportunity for the Group to explore new business opportunities whilst expanding our footprint in Southern Europe.”
The announcement of Unigloves joint venture with UG Nitrex comes quickly after they announced it had taken full ownership and control of Unigloves Germany as part of its preparations to make “further inroads into the European markets”.
