Sage Automotive Interiors, which is owned by Clearlake Capital Group, has acquired Miko S.r.l., an Italy-based maker of suede-like automotive interior fabrics. No financial terms were disclosed.
GREENVILLE, SC and GORIZIA, Italy –Sage Automotive Interiors (Sage) announced today that it has acquired Miko S.r.l., an Italian maker of suede-like automotive interior fabrics. Financial terms of the transaction were not disclosed.
Miko was established in 1997 in Gorizia, Italy as a producer of non-woven fabrics for the furniture sector. Miko’s core business is the production of Dinamica®, an ecological microfibre obtained from recycled PET fibres. In the past 10 years Miko has broadened its product range to respond to the demands of other areas of application including the automotive sector. Today, internal car coverings constitute the main sector of use for Dinamica®.
“The Dinamica® brand of suede-like fabrics is a natural expansion of our customer offering” said Dirk Pieper, Sage CEO. “Dinamica® has a strong reputation in the marketplace where a premium or luxurious feel is desired. The sustainable aspects are a natural fit with our record of sustainable products.”
“We are excited to be part of a big family like Sage” explained Lorenzo Terraneo, Miko CEO . “For the future of our Dinamica® brand this is a great opportunity for further growth thanks to Sage’s solid global network. It ‘a leap forward for us that will bring important benefits for our customers.”
The acquisistion of Miko will not affect US Jobs.
About Sage Automotive Interiors
Sage Automotive Interiors (www.sageautomotiveinteriors.com) is one of the world’s leading providers of automotive bodycloth—seating, door panel surfaces, and headliners—to Original Equipment Manufacturers (OEMs). Global offices and manufacturing locations include the U.S., Japan, China, Brazil, Korea, India, Mexico and Europe. Sage enjoys core strengths in consumer research, sustainability and innovative problem solving for the OEM. Sage’s vision is to be the market leader in design, engineering and technical capability supported by world-class manufacturing.
About Miko S.r.l. and Dinamica®
Miko S.r.l. (www.dinamicamiko.com) is a leading Italian company which produces Dinamica®, the first ecological microfiber with unique characteristics suitable for a variety of applications. Dinamica® is produced using recycled polyester with an innovative water-based manufacturing process in which no harmful chemical solvents are used. Miko has created various solutions for the automotive market with recyclable microfibers that are environmentally friendly and comply with the highest standards. These products have been chosen by leading car makers for their car interiors thanks to their green credentials, unrivalled technical qualities and incomparable aesthetic features; perfect for seats and backrests, as well as for panels, roof lining and door interiors. In July 2012, Dinamica® for automotive applications obtained the EPD® certification, the most advanced Environmental Product Declaration for products.