Brussels – Alpha has signed a sale and purchase agreement with Waterland and its co-shareholders for the acquisition of 100% of the share capital of IPCOM (“the Group”).
Founded by Waterland in 2010 and headquartered in Belgium, IPCOM is the leading European insulation solutions provider with sales of ca. €285 million. The Group serves a large and diverse loyal customer base of installers, international contractors, wholesalers and OEMs. IPCOM delivers its products and solutions through a network of 50 outlets across the Benelux, the DACH region, Ireland and Scandinavia.
The new shareholders will continue to support IPCOM in further expanding its activities and continuously strengthening its position in the European insulation market, pursuing growth through a strong and fast acquisition strategy.
The terms of the transaction, which is subject to approval by the German competition authority, are not disclosed.
Frank Vlayen, CEO of Waterland, comments: “We are proud of the leading position that IPCOM has achieved in the European insulation market. Since its foundation in 2010, Waterland has actively supported IPCOM’s management in an international buy & build strategy, that saw the company grow from a regional Belgian building insulation distributor to become a leading European insulation solutions provider, through the completion of more than 20 acquisitions. We wish the entire IPCOM management team great success in the realisation of the next growth phase of the company.”
Bernard Vercaemst, CEO of IPCOM Group: “After a very exciting first period in which we have been able to build, with the support of Waterland, a solid European group with a strong backbone and a clearly defined strategy, we are very happy to welcome Alpha as our new shareholder and partner. Based on the cultural match, the people and business driven approach of Alpha, the strategic alignment and the available resources for further acquisitions, we are strongly convinced that Alpha is the right partner for IPCOM in the future. The IPCOM management is highly committed and motivated to further deploy the full potential of our group together with our new shareholder.”
Patrick Herman, Partner at Alpha: “Alpha has been eager to sign this transaction ever since it has had access to IPCOM’s performances. The interactions with the outstanding management team and the exciting growth prospects for the years to come have greatly fuelled Alpha’s decision to acquire this unique company.”