Benvic announces acquisition of the majority of Luc&Bel

Benvic, a French group leader in production of highly innovative PVC-based thermoplastic solutions and ecological biopolymers, has announced the acquisition of the majority of the Company Luc&Bel, a group specialising in design and manufacture of components of excellence for medical devices.

Due to this acquisition, Benvic says it further strengthens its positioning in the medical sector; asector in which the Group is already present following the investment in Modenplast, an important PVC producer specialised in the production of formulations, tubes and tubulars for medical use with headquarters in Modena, which took place in 2019.

The move will also allow Luc&Bel to accelerate the growth path by exploiting the many synergies that will be established with Modenplast itself and the international presence of the Benvic Group.

Luca Ferrari, founder of Luc&Bel, remains CEO of the company and minority partner together with the rest of the management team, thus ensuring continuity in management and future development.

Since Investindustrial's entry into the company's capital in 2018, this transaction represents the seventh acquisition of Benvic in Europe. Of these seven, four took place in

Italy, in particular in Emilia Romagna, a region in which Benvic has a solid production roots

having taken over the Vinyloop company in 2018 and subsequently, in 2019, Plantura and

Modenplast.

Luc Mertens, CEO of Benvic, said: "We are very pleased to continue our growth path with Luc&Bel just one year after our first acquisition in the medical sector. PVC plays a fundamental role in this sector and this is why we aim to be increasingly present, starting from Italy. We are confident that Luc&Bel, thanks to its highly technological and innovative business model, will bring added value to our group and our customers.”

Luca Ferrari, CEO of Luc&Bel added: "We are thrilled to have joined Benvic Group which we are confident will further strengthen Luc&Bel's positioning internationally. We will continue to work guaranteeing our customers the high standards that distinguish us and, taking advantage of the new synergies that we will create together with Benvic, we will continue our growth path.”