Nextil has signed a Memorandum of Understanding (MoU) with the shareholders of Texas-based US company Isavela, with a view to acquiring a 51% majority stake in the company.

As reported by the company in a statement to the Spanish National Securities Market Commission (CNMV) on Wednesday, Isavela specialises in the design, manufacture, and marketing of compression and post-operative garments for the medical sector, operating in the high value-added “medical garments” segment.

Specifically, the company develops textile solutions that require premium elastic fabrics, high-quality standards, traceability and regulatory compliance, as well as close collaboration with hospitals, clinics and healthcare professionals, mainly in the US.

At present, Isavela generates recurring revenues of more than 10 million dollars (8.6 million euros), with EBITDA of over 3 million dollars (2.6 million euros), reflecting a specialised, profitable business model with high recurrence.

Thus, the potential integration of Isavela would enable Nextil to complete the value chain in the medical segment, from fabric development through to the finished garment, drawing on its international industrial platform and its expertise in management, innovation and sustainability.

Following the transaction, Isavela will continue to operate independently under the leadership of its current executive team, maintaining its identity, culture, and specialisation, while benefiting from Nextil’s industrial, technological, and commercial support to accelerate its expansion in the United States and other international markets.

The agreement provides for a flexible payment structure, combining an initial cash payment and a deferred component, which may be settled in cash or in Nextil shares, at Nextil’s discretion. The MoU also includes a future option to acquire 100% of Isavela, within a timeframe agreed by the parties, with the aim of supporting the project’s growth and maximising joint value creation in the medium and long term.

Likewise, the agreement establishes a joint work period to carry out due diligence, draw up the business plan and negotiate the final agreements.

“Isavela is a company with an excellent position in the medical and post-operative sector, an exceptional team and a solid business model,” said Nextil Group, stressing that this agreement enables it to advance in a strategic segment, integrate the entire value chain and strengthen its presence in the US with a long-term vision, as it has “great ideas for product, market and design development.”

Furthermore, the company highlighted that this agreement forms part of Nextil’s strategic plan, which continues to actively analyse new opportunities for inorganic growth, especially in high value-added segments with strong potential for international expansion.

Lastly, the company stated that it will promptly inform the market of any relevant developments relating to this transaction and to the rest of the group’s strategic initiatives.