Delta Plus Strengthens Presence in Brazil with Acquisition of Athenas

Strategic Expansion in São Paulo

Based in São Paulo, Athenas generates a turnover of approximately 7.2 million euros with an operating margin above the group's average. Founded in 2005 by Paulo Cazarim, the company employs around one hundred staff, with over 80 dedicated to production. It offers a structured catalog of technical fall protection solutions and has more than 450 distributor clients across Brazil. Athenas will be fully integrated into the group's consolidated accounts from January 1, 2026. Currently led by Luis Fernando and Felipe Cazarim, sons of the founder, the company is a strategic platform to accelerate the deployment of Delta Plus's global offerings in South America.

Complementary Strengths and Market Synergy

Delta Plus and Athenas exhibit strong complementarity in product offerings, served markets, and corporate culture. Athenas brings its expertise and technological leadership in the fall protection segment in Brazil, while Delta Plus provides its global skills and resources to accelerate Athenas's development. This acquisition builds on the successful integrations of Pro Safety in 2013 and White Lake in 2020, which have solidified the group's position as a leading player in head protection and safety footwear in Brazil.

Financial Performance and Corporate Structure

In 2025, Delta Plus Group achieved a turnover of 389.6 million euros with an organic growth of -2.0%, despite an unfavorable exchange rate effect of 14.0 million euros. A positive perimeter effect of 11.4 million euros cushioned this impact. The current operating profitability remained at 44.4 million euros, representing 11.4% of the turnover. The net result attributable to the group amounted to 27.2 million euros and the equity stood at 275.2 million euros, reflecting a healthy financial structure. The group employs 3,748 staff across 47 subsidiaries located in 31 countries, serving clients in over 110 countries.