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Dassy Group takes Dovesco on board to support growth ambitions

 

Bruges, 10 March 2022 - Dassy Group, the designer, manufacturer and distributor of qualitative and innovative professional work wear and personal protection equipment under the “Dassy” brand, welcomes Dovesco as new shareholder to support the growth ambitions of management. 

Dassy Group designs and manufactures qualitative and innovating professional workwear and personal protection equipment distributed under the “Dassy” brand through a network of more than 1.500 dealers in Europe. The “Dassy” brand is valued by its dealer network as a true, customer focused, partner offering products that are innovative, qualitative, and trendy. Dassy Group is headquartered in Bruges where the Sales & Marketing organization, the R&D team, the support services including the purchase department, and the automated inventory and distribution center are located. Production takes place at GP Garments, a subsidiary of the group, that operates a modern plant in Sri Lanka that complies with the most stringent BSCI regulations (social and environmental certification). Through its subsidiaries, Dress Confect and Proteq, the Dassy Group manufactures private label, specialized and tailormade workwear and distributes personal protective equipment of third party brands such as Hydrowear, About Blu, Bekina, Honeywell, Edge Safety Equipment and Sip Protection. The Dassy Group realized last year more than € 50m turnover and employs worldwide more than 1770 employees, of which about 80 in Belgium.

Stefaan Le Clair, CEO van Dassy Group: “We are excited to welcome Dovesco as our new shareholder. The Dassy Group has under the leadership of Amelie Derere made significant investments in innovating its collections, the strengthening of the Dassy brand and dealer network, the internal organisation and an automated distribution center, whereby its priority has always been to deliver (to) happy customers. These investments have allowed the Group to achieve significant growth. We are ready for the next phase of growth. With Dovesco as our new shareholder our independence and family roots are ensured and we have a financially strong partner on board who can support our growth ambitions."

Philip Ghekiere, Partner of Dovesco: “We are pleased that we can support management in writing the next chapter of the “Dassy” story. Under the inspiring leadership of Amelie Derere and Stefaan Le Clair “Dassy professional workwear” has grown into a leading brand in the segment of qualitative and trendy workwear. Dassy Group is management by a young and entrepreneurial team with passion for the product, the brand and the customer. We are very excited that as new shareholder we can support the growth ambitions of management, true to our tagline “trusted partner for growth””.

About Dassy Group

Dassy Group is a leading designer, manufacturer and distributor of qualitative and innovative professional workwear and personal protective equipment. The Dassy Group distributes its workwear under the “Dassy” brand throughout Europe through a netwerk of more than 1500 dealers. Dassy Group manufactured last year more than 2.5 m pieces of workwear and realized a turnover of more than € 50m. The Group employs worldwide more than 1.770 employees. For more information about Dassy Group, see www.dassy.eu.

About Dovesco

Dovesco is a leading Belgian investment company that is active in the mid-market. Dovesco is part of the Domo Investment Group that is active in (i) the chemicals industry via Domo Chemicals, (ii) private equity via Dovesco and (iii) real estate via Alinso.

The investment strategy of Dovesco is to partner with ambitious entrepreneurs and management teams to accelerate the growth of their businesses, both organically, or where appropriate through strategic acquisistions. Dovesco invests in profitable businesses with leading marketpositions, managed by strong management teams. Dovesco has over the last years made more than 20 investments. For more information about Dovesco, see www.dovesco.com.

Dovesco was assisted in the transaction by Stibbe, LDS Advisory and Allen & Overy. The seller was advised by Degroof Petercam, CMS Debacker, PWC and Tiberghien.

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