Recticel completes the acquisition of the insulated panel specialist Trimo
Recticel announces that on 29 April 2022 it successfully acquired Trimo d.o.o., the Slovenian specialist in the production of sustainable premium insulated panels for the construction industry (see also press release of 22 March 2022).
All customary conditions precedent, including regulatory approvals, were met much faster than initially expected. The acquisition price was paid in cash for an enterprise value of EUR 164.3 million. Trimo will be consolidated in Recticel’s financial statements as from 01 May 2022.
Olivier Chapelle (Chief Executive Officer): “The acquisition of Trimo clearly marks another important milestone in Recticel’s strategic portfolio reorientation in order to become a pure insulation player. On top of this, I’m very satisfied that the closing of the transaction went very fast and smoothly.
Trimo is predominantly geared towards the industrial and commercial building segments and will not only complement our current insulation boards activities but will also expand our geographic presence in the Central and South-Eastern European market.”