A strategic acquisition enhancing OTEGO’s offering to industrial clients
- OTEGO Group, a world-leading company for coating and laminating technologies, acquired TANALS, a French manufacturer of process and transmission belts.
- Founded in 1948, OTEGO Group was carved out of the Glen Raven Group in 2020 through an MBO, with the support of Geneo Capital, Eximium and BPIFrance. OTEGO Group specializes in high-performance polymer-coated fabrics and provides advanced coating and lamination solutions to industries requiring resistance to heat and flames, chemicals, abrasion, and non-stick properties. OTEGO Group generates nearly 85% of its revenue internationally across more than 110 countries, combining a strong global footprint with a localized operating approach. In January 2026, the Group acquired CALOMATECH, a French-based specialist in industrial thermal insulation.
- Founded in 1936, TANALS is an independent family-owned company led by Pierre-Régis FREY for the fourth generation. The company designs and manufactures transmission belts, conveyor belts, and mechanical joints for industrial customers, and stands out for its quick-assembly belt systems, easily integrated into production machines. The company holds several patents on technologies that are unique on the market, including ERO JOINT B1 & HP, and 3D cleats, alongside bespoke developments. Backed by a high-performance industrial base delivering French quality above market standards, TANALS has built lasting relationships with strategic partners, notably GATES, a global reference in belt distribution.
- The integration of TANALS, bringing unique expertise in belts, conveyor belts and mechanical joining systems, strengthens OTEGO’s ability to offer industrial customers an integrated portfolio covering protection, conveying and transmission.
- While strengthening OTEGO’s presence in selected industrial segments, the acquisition will accelerate TANALS’s international development by giving the company access to OTEGO’s established export network, enabling it to expand its patented ERO JOINT technologies beyond France and Europe.
- By combining complementary materials and mechanical expertise, the two companies will be better positioned to serve the most demanding industrial production environments.
A transaction supported by Altios Corporate Finance
The role of Altios Corporate Finance was to support OTEGO in its external growth strategy in France. The mandate covered several steps, from identifying companies that complement OTEGO in terms of geography and business lines, contacting the relevant targets, carrying out a financial analysis of these targets, and finally assisting the group through the negotiations and due diligence phases up to closing.
The role of Altios Corporate Finance:
- Screening of the French market
- Approach qualified targets
- Financial analysis and valuation of the target company
- Due diligence coordination
- Support in negotiating LOI, SPA & other transactional documents
Advisors
Buyer’s advisors:
- Altios Corporate Finance (M&A): Alexandre Kaplan, Elia Laurent, Elias Remy
- LexCase (Legal): Pénélope Bouchard, Camille Bigan
- Baker Tilly (Finance): Frédéric Durand, Pierre Ricard, Pierre Dufour
- Germain Maureau (Intellectual Property) :Maximin Salles,Stéphane Agasse, Philippe Verriest, William Lobelson
Seller’s advisors:
- Athéna Conseil (Legal): Anne-Yvonne Diebold-Passernig, Jérémie Carray
Contact Press: Alexandre Kaplan, M&A Director, a.kaplan@altios.com
