08 October 2024

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

Press Release – Grasse, France September 2024

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

Diversification of the Product Range

InovaWeld is renowned for its unique expertise in laser-welded stainless steel packaging, having been a pioneer in the field, and thus offers the Tournaire Group a new range of products dedicated to the preservation of sensitive or hazardous products in the pharmaceutical, food, perfume, or specialty chemical industries.

The technical specifications of stainless steel make it a complementary material to aluminum (more rigid, resistant to corrosion, high heat resistance, and low electrical conductivity, etc.), allowing 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)

Strengthening the Group’s Presence in North America

This acquisition also strengthens the presence of the Tournaire Group 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 major investments to meet the increasing demand. InovaWeld will thus benefit from the support of Tournaire’s teams located on the East Coast of the United States, in Warren (New Jersey).

Preparing for Tomorrow’s Challenges

This acquisition is also part of the Tournaire Group’s CSR roadmap. Following the sale of its plastic activities in 2023, the group has refocused on 100% recyclable aluminum packaging. The integration of stainless steel into the product range will offer fully reusable solutions.

The strength of stainless steel makes it ideal for reusing packaging over many cycles, thus reducing consumption and the environmental footprint of industrial companies. With this acquisition, Tournaire is advancing the promotion of alternatives to plastic for its customers and their industrial operations.

A Shared DNA

Thanks to this transaction, Tournaire is also entering the Canadian maple syrup market, where InovaWeld is a key supplier. This activity resonates with the history of Tournaire, which was built around the natural essential oils and perfume industries.

“Packaging valuable natural raw materials has always been at the heart of our business and our raison d’être. We are very proud of it, it gives meaning and strongly contributes to the commitment of our employees,” says Vincent Monziols.

Perpetuation and Development

The integration of InovaWeld into the Tournaire Group will accelerate its growth while preserving its know-how and local roots. The InovaWeld management team will remain committed to ensuring the continuity of operations as well as a seamless integration into the Tournaire Group.

About the Tournaire Group

Part of the Tournaire product range

The Tournaire Group draws on nearly two centuries of expertise in the production and marketing of high-performance monobloc aluminum packaging used for sampling, storage, and transport of high-value materials (perfumes and essential oils, aromas, pharmaceutical ingredients and active substances, solvents, etc.). The Tournaire Group has a diversified portfolio of over 2000 clients operating in resilient and growing sectors such as perfumery, pharmaceuticals, food ingredients, fine and specialty chemicals, etc.

Historically based in Grasse, the world capital of perfume, the Tournaire Group holds its main production site there and boasts a unique industrial know-how. The Group also has commercial subsidiaries in the United States and Vietnam, and markets its solutions in over 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, to accelerate its growth.

About InovaWeld

Part of the InovaWeld product range

Based in La Pocatière, Canada, InovaWeld specializes in the manufacture of laser-welded stainless steel drums and barrels, designed for specific industrial applications (aromas and perfumes, pharmaceuticals, chemicals, etc.) and the agri-food industry (notably maple syrup).

About Motion Equity Partners

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

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

Motion Equity Partners is a responsible, experienced investor committed to sustainable growth. As a capital investor in European SMEs and mid-sized companies, Motion Equity Partners has always made responsible ownership a key priority.

Press Contact

AS AGENCY RP – contact@asagencyrp.com