Drylock Technologies is a family owned manufacturer of personal hygiene products, owning nine production plants and employing more than 2,500 people worldwide.
* At 31 December 2019, Sofina is represented in the decision-making bodies of the company.
Turnover at 31/12/2019
6Y Organic CAGR
Based in Zele (Belgium), Drylock Technologies sells innovative hygiene products for daily comfort and care, i.e. baby diapers, adult and fem care products, mainly to retailers. Revenues are generated in Europe, Latam, USA and Russia.
Drylock Technologies’ main competitive advantage is its ability to quickly follow brand innovations, while maintaining competitive pricing given its state-of-the-art manufacturing technology. In the diaper industry, the company initiated the latest major innovation: tubes (Magical Tubes®) dispensing liquid to reduce the risk of leaks.
Lillydoo is a leading German player in the subscription service for the puchase of diapers. The company was founded in 2015 by two former employees of P&G who were inspired by the success story of the Dollar Shave Club. Drylock is the main supplier of Lillydoo since their inception. Bart Van Malderen became an investor early in the company when the founders were looking for support.
Sofina participated in Lillydoo’s capital increase shortly after the investment in Drylock to further support the growth of Lillydoo and further enhance alignment with Bart Van Malderen.
Belgium | 2019
Sofina entered the cap table of Drylock Technologies through a capital increase that will fuel Drylock Technologies’ ambitious growth plans in further rolling out its technological and patented product portfolio. Following this transaction, Sofina became a minority shareholder in Drylock Technologies alongside Bart Van Malderen, the founder and CEO of the company who remains the majority shareholder and the driving force of the company.
Sofina is represented at the board of directors of Drylock Technologies.