German companies Ardex, the construction chemicals specialist, and Wedi, which makes backer boards for wet rooms, have combined.
Ardex says its purchase of Wedi shares is the largest acquisition in the company’s history, although both parties have agreed not to disclose the financial terms of the deal.
Ardex says Wedi will continue to operate independently with Stephan Wedi and Fabian Rechlin remaining as the firm’s managing directors.
Mark Eslamlooy, CEO of the Ardex Group, says the move is a milestone in the development of Ardex. “The Ardex Group is taking a major step forward with the acquisition of the market leader for watertight shower and construction systems. There could be no better way to enhance our systems competence – Ardex and Wedi are two strong brands which complement one another in an ideal manner.
“As family-run companies, we also share a common understanding of the importance of customer proximity, innovation and quality. All in all, it is the perfect basis for a successful co-operation.”
For his part, Stephan Wedi. says: “Ardex is a perfect growth accelerator for us – one only has to think of the many global markets and the joint innovation potential. It was of tremendous importance to us that we find a partner with whom we can safeguard our independence and contribute our strengths to ensure joint growth.
“To this, we will also implement the already planned capacity expansions together with Ardex. The matter is one very close to my heart, and from the very outset my gut feeling about Ardex was extremely positive.”
Wedi is well-known in Europe, including the UK, and claims market leadership in North America for watertight shower and construction systems, with its own factory in Batavia, Illinois. Joining with Ardex is intended to develop its position on both sides of the Atlantic.
Fabian Rechlin says: “Our partners in the trade have long been encouraging us to take a major step forward. We are doing so now.”
Wedi began in 1983 with the invention of a watertight building board – and the board with the blue core is still the company’s trademark. What began with Helmut Wedi working on his own in the garage at his home has grown into an international company with more than 500 employees and a further production site in the USA.
Ardex employs about 4,000 people in more than 100 countries. Wedi could push its worldwide turnover to more than €1billion.