Klipphausen and Villmergen, July 17, 2024 –

Hightex Verstärkungsstrukturen GmbH is pleased to announce that, retroactively from January 1, 2024, it has become an independent member of the "Connova Group." This marks a significant step for the sustainable development of both companies and the entire "Connova Group."

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Acquisition and New Co-Management

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The two co-founders and co-shareholders, Dr. Konrad Gliesche, Dr. Dirk Feltin, and Jeanette Scherf, have sold their shares in Hightex Verstärkungsstrukturen GmbH to Hightex Holding GmbH, a subsidiary of Connova Holding AG, effective January 1, 2024. Dr. Dirk Feltin will continue as Managing Director and co-shareholder of Hightex and will actively support the Connova Group. Maurice Perret, as a new co-shareholder, has joined Hightex Verstärkungsstrukturen GmbH as the second Managing Director and will actively oversee the company’s expansion.

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Future Plans and Synergies

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Connova (Germany) GmbH will relocate from Großröhrsdorf to Klipphausen in spring 2025 to consolidate the forces of both companies at a shared location. This will allow for shorter distances, faster and cross-functional solutions, and strengthen both companies' position in the market. Dr. Konrad Gliesche will fully retire from the company, while Jeanette Scherf will remain as a proxy in the management for a transitional period.

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Expanding the Strategic Partnership

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The Connova Group brings its extensive experience in aerospace, automotive, and drone industries to the partnership. Together with Hightex Verstärkungsstrukturen GmbH, the production and innovation capacities will be further expanded, and strong strategic partnerships will be fostered.

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Statements on the Acquisition

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The shareholders of Hightex Verstärkungsstrukturen GmbH are pleased with this development: "We took the necessary time to find a forward-looking and solid solution for our long-term employees with the successful Connova Group. We are very happy with these steps into the future, as well as the continuity and synergies at the Klipphausen location."

Maurice Perret adds: "The next growth step for the company group has been initiated. We thank all three shareholders for this succession solution and are excited to continue building on this company's rich history in reinforcement structures."

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About the Connova Group:

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The Connova Group is a leading Swiss and German industrial group specializing in composite materials and tailored engineering services for lightweight construction. With two locations, the group serves international clients in aerospace, automotive, drones, as well as research and select industrial partners. For more information, visit: https://www.connova.com/

About Hightex Verstärkungsstrukturen GmbH:

Hightex Verstärkungsstrukturen GmbH is a spin-off of the Institute for Polymer Research in Dresden and has been a leader in the manufacturing of high-performance composite materials using Tailored Fiber Placement (TFP) technology since 1998. The company operates a production area of approximately 8,000 m² in Klipphausen. For more information, visit: https://www.hightex-dresden.de/

GVG Corporate Finance Advisors has advised the owners of Hightex Verstärkungsstrukturen GmbH throughout the structured sales process.