Derotex, the market leader in recycled natural fibers, has welcomed Down2Earth Capital III (D2E) as a strategic partner to fuel its next phase of expansion.
Following recent acquisitions of companies specializing in upgrading flax industry byproducts, founder and CEO Manu Lagast is taking another bold step forward. With the support of D2E and the strengthened management team – including Nicolas Vandermarliere and Jan Steen – the newly formed ‘The Circular Fiber Group’ is poised for future growth.
Since 2013, Derotex has grown into the leading player in recycling and upcycling natural fibers, such as jute, flax, and agave, for circular industrial applications. In 2025, the company solidified its position by acquiring niche firms Spillebeen and Vervaeke Fibre, while expanding its leadership team.
Now, with D2E as a capital partner, The Circular Fiber Group aims to evolve into a fully integrated one-stop shop for recycled natural fibers through a targeted buy-and-build strategy.
Founded in 1997, Derotex transforms recycled fibers into high-value materials for industries like bio-insulation, textiles, mattresses, automotive, and paper. With 25 employees across production sites in Wielsbeke and Izegem, the company achieved a consolidated revenue of over 15 million euros in 2025, with an EBITDA of 5.5 million euros.
CEO Manu Lagast expressed enthusiasm for the partnership: “D2E shares our passion for entrepreneurship, pragmatism, and focus – making them the ideal partner to scale The Circular Fiber Group.”
Matthias Neirynck of D2E added, “Derotex’s unique position in a growing niche aligns perfectly with long-term sustainability trends. We’re confident in its potential to become a quality-driven leader in recycled fibers.”
