Tournaire expands its range and extends into North America with the acquisition of Inovaweld

The Tournaire Group, a leader in the manufacture of high-performance industrial packaging in monobloc aluminum, announces the acquisition of InovaWeld, a Canadian company specialized in the production of laser-welded stainless steel packaging.

InovaWeld is recognized for its unique expertise in laser-welded stainless steel packaging, having been a pioneer in this field, and therefore provides the Tournaire Group with a new range of products dedicated to the preservation of sensitive or hazardous products in the pharmaceutical, food, perfumery, and specialty chemicals industries.

The technical specifications of stainless steel make it a material complementary to aluminum (more rigid, corrosion-resistant, high heat resistance and low electrical conductivity, etc.), thus enabling the Tournaire Group to expand its offering and meet the critical needs of its customers.

From left to right: Corentin Philippe (VP M&A Tournaire), Bruno Morin (Co-Founder InovaWeld), Bruno Desrosiers (COO InovaWeld), Vincent Monziols (CEO Tournaire), Michel Levesque (Co-Founder InovaWeld), Damien Canac (VP Business & Innovation Tournaire).

This acquisition also strengthens the Tournaire Group’s presence in North America, where InovaWeld distributes the majority of its specialty products.

Tournaire is already experiencing significant growth in the United States through its local subsidiary and has made substantial investments to meet the increasing demand. InovaWeld will therefore benefit from the support of the Tournaire teams located on the East Coast of the United States, in Warren, New Jersey.

This acquisition is also part of the Tournaire Group’s CSR roadmap. Following the divestment of its plastic activities in 2023, the Group refocused on aluminum packaging, which is 100% recyclable. The integration of stainless steel into the product range will make it possible to offer fully reusable products.

The strength of stainless steel makes it ideal for the reuse of packaging over multiple cycles, thereby reducing consumption and the environmental footprint of industrial players. With this acquisition, Tournaire is moving forward in promoting alternatives to plastic for its customers and their industrial operations.

Through this transaction, Tournaire is also entering the Canadian maple industry market, where InovaWeld is a leading supplier. This activity resonates particularly with Tournaire’s history, which was built around the natural essential oils and perfume industry.

The integration of InovaWeld into the Tournaire Group will accelerate its growth while preserving its expertise and local roots. InovaWeld’s management team will remain committed to ensuring business continuity as well as a seamless integration within the Tournaire Group.

The Tournaire Group draws on nearly two centuries of expertise in the production and marketing of high-performance monobloc aluminum packaging used for the sampling, storage, and transport of high value-added materials (perfumes and essential oils, flavorings, pharmaceutical ingredients and active substances, solvents, etc.). The Tournaire Group has a diversified portfolio of more than 2,000 customers operating in resilient and high-growth sectors such as perfumery, the pharmaceutical industry, food ingredients, fine and specialty chemicals, etc.

Historically based in Grasse, the world capital of perfume, the Tournaire Group operates its main production site there and benefits from unique industrial expertise. The Group also has commercial subsidiaries in the United States and Vietnam and markets its solutions in more than 70 countries. In September 2022, the Tournaire Group entered into a strategic and financial partnership with Motion Equity Partners, a French private equity firm with a strong entrepreneurial culture, in order to accelerate its growth.

Based in La Pocatière, Canada, InovaWeld specializes in the manufacture of laser-welded stainless steel drums and barrels designed for specific industrial applications (flavors and fragrances, pharmaceuticals, chemicals, etc.) as well as for the food industry, particularly the maple industry.

With more than 25 years of experience supporting French and international mid-sized companies in partnership with management teams, Motion Equity Partners is a recognized private equity player.

In particular, Motion Equity Partners has supported the development of more than 20 French SMEs and mid-sized companies and has solid experience in advanced industry, renewable packaging, nutrition, and health, notably through its support of companies such as Omni-Pac Group (European leader in the molded cellulose packaging market), Olmix (global specialist in natural solutions for agriculture), Olyos (laboratory specialized in health nutrition), and Diana Ingredients (global supplier of innovative natural ingredients).

Motion Equity Partners is a responsible, experienced investor committed to sustainable growth. As an equity investor in European SMEs and mid-sized companies, Motion Equity Partners has always made responsible shareholding a strong requirement.

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