The Mulhouse firm founded in 1746, known for its embroidery cotton threads sold all over the world, was sold to the British company.
DMC threads change hands again. The investment fund BlueGem announced Wednesday, February 13 to have sold the group DMC Lion Capital investment fund.
Founded in 1746, the firm of Mulhouse is known for its embroidery cotton threads sold all over the world. This activity is the only remnant of a behemoth in the Alsatian textile industry, which in the 1970s had more than 16,000 employees. DMC had been put in receivership in 2008. Its activity had been taken over by Bernard Krief Consulting, directed by Louis Petiet. The businessman then sold BlueGem, founded in 2007, owner of Liberty department stores.
In August 2016, the DMC brand joined the British investment fund to be closer to the British company Wool and the Gang, an online sales website for yarns, wool balls and hooks. To this start-up, BlueGem had added the Sirdar knitting specialist, in 2017, to constitute The DMC Group, to install its head office in London and to make "The European leader in needlework", formulates the press release announcing its transfer.
90 million euros of turnover
In 2018, The DMC Group (400 employees) generated 90 million euros of revenue, through its activity in more than 100 countries in the world, says the investment fund. BlueGem welcomes the sale of this asset to Lion Capital for "An amount close to triple its investment", but without specifying the number. The amount of the transaction would value DMC nearly 120 million euros, according to the site of specialized information Private Equity News.
Lion Capital is known for its investments in the consumer goods sector. This fund has notably been the capital of Materne, Weetabix and Orangina-Schweppes. He is now a shareholder in the Alain Afflelou, Picard and Hema brands, according to his website.