Patrick Vericel becomes majority shareholder of MLT Minet Lacing Technology

Patrick Vericel has become the new

majority shareholder of the MLT Group

Conveyor solutions company, MLT Minet Lacing Technology, based in Saint-Chamond, France, has announced that one of its CEOs, Frédéric Guillemet, was leaving the company and confirmed that his co-partner, Patrick Vericel, will stay on as the majority shareholder.

Founded in 1947, the company was acquired in 2017 by Patrick Vericel and Frédéric Guillemet, who each owned 50 per cent of it. Four years later, the two men would double the business, adding a partnership agreement with the American company Flexco, purchasing the Belgian company TechnicGum Polymers and opening two new subsidiaries in Peru and South Africa.

Frédéric Guillemet has been a key member of the MLT Minet Lacing Technology management team, helping to drive the company's growth and success. He joined the company as Managing Director in 2014. After nine years at the head of the company, the Arts et Métiers engineer wants to take a step back and move on to new projects. Confident in the Group's continuity, he will remain a shareholder with 13 per cent of the capital but will not keep any executive mandate. 

Patrick Vericel, who joined the company in 2016 as sales director, has increased MLT France's turnover from EUR13m to EUR30m in five years and the group's turnover from EUR17m to EUR45m. He is now the principal shareholder and will continue to lead the company and promote MLT Minet Lacing Technology's values of quality, innovation and customer service.