STOCKHOLM, Sweden (BRAIN) — Sweden-based holding company Röko AB has acquired Italy's CyTech S.r.l., the parent of the Elastic Interface cycling short pad ingrediant brand.
In 2021 CyTech's founders sold a 70% share in the company to PM & Partners SGR, an Italian group, with the founders retaining the balance. Röko said it has now acquired 99% of the shares in the company.
According to Röko, CyTech has annual net sales of 27 million euros (about $31 million) and about 190 employees. A sales price was not released.
CyTech is headquartered in San Vendemiano, near Treviso, and has offices and plants in Italy, Croatia and Mexico. Its products are sold in over 40 countries around the world, under three different labels: Elastic Interface, Berenis and Bikepad. Besides its short liners, it makes cycling shoe insoles and cycling glove pads used by several brands.
Elastic Interface was founded as a division of the De Marchi apparel brand in 2001 and later split from the clothing brand to become a standalone business. De Marchi remains owned by the founding family.
Röko owns 35 companies in a variety of industries.
