OSLO, NORWAY: BEWI ASA has entered an settlement for the acquisition of eighty per cent of the main Spanish insulation firm Aislamientos y Envases S.L. (Aislenvas).
BEWI ASA is a number one supplier of packaging, components, and insulation solutions.
Aislenvas operates three facilities, all inside the identical industrial area, manufacturing a number of EPS-based solutions. The company’s key merchandise are insulation solutions, together with EPS boards for underfloor heating and EPS panels for External Thermal Insulation Composite Systems (ETICS) used to enhance the energy effectivity for constructing renovations.
In addition, Aislenvas provides a vary of different EPS-based products, such as packaging and industrial applications.
“Through this acquisition, we’re increasing our geographic footprint into Spain, primarily inside the marketplace for insulation solutions. There is an enormous want to make buildings in Europe extra energy efficient, to reduce CO2 and energy costs. This is anticipated to drive demand for insulation options past the demand associated to the general construction industry,” says Christian Bekken, CEO of BEWI.
For 2021, Aislenvas had revenues of roughly EUR sixteen million, with an EBITDA of EUR 3.5 million. From 2018 to 2021, Aislenvas recorded significant and worthwhile growth, primarily pushed by elevated demand for underfloor heating products, elevated gross sales for key customers and excessive retention rate for different customer.
“We are very enthusiastic about becoming a member of BEWI as we believe the collaboration and know-how sharing will additional enhance our capabilities to higher serve our customers and different stakeholders,” says Pablo Henarejos, managing director of Aislenvas.
“By including Aislenvas’s options to our portfolio and increasing our operational footprint, we strengthen our presence on the Iberian Peninsula, the place we see attractive market opportunities, in addition to synergies with our operations in Portugal,” Bekken continues.
The acquisition is conditional upon customary conditions and shutting is anticipated to happen inside the fourth quarter of 2022. The consideration, which is in line with BEWI’s a number of pricing in historic M&As, will be settled in money upon closing.