Press release
Recticel Group acquires Isopanel NV to deliver integrated solutions in the cold storage panels market
Recticel Group has acquired 100% of the Belgian Isopanel Group, a specialist in installing insulated panels for hygienic cold storage and isothermal solutions for industrial buildings.
The transaction is being completed through the Reclar joint venture in which Recticel Group holds 76% controlling stake. It is structured as a fixed fee plus an earn-out, with a total enterprise value capped at EUR 16.5 million, based on the FY 2026 EBITDA result, expected between EUR 3.5 - 4.0 million, and with sales expected to land between EUR 20.5 - 23.5 million. This reflects Isopanel’s strong growth trajectory.
Founded in 1998, Isopanel has built a solid reputation for installing self-supporting insulated wall and ceiling panels. The company serves sectors including food and pharmaceuticals, conditioned high-bay infrastructures and temperature-controlled storage.
The acquisition strengthens Recticel Group’s presence in higher added-value downstream applications, one of the core pillars of its ELEVATE 2030 growth strategy, and offers operational synergies with Trimo, Rex and Miclar within the Insulated Panels division. We confirm our overarching objective to achieve EBITDA of EUR 100 million by 2030.
The acquisition was paid for in cash and will be consolidated in Recticel Group’s financial statements from 1 June 2026.
