Recticel completes the acquisition of REX
Recticel announces that on 10 January 2024 it successfully completed the acquisition of REX PANELS & PROFILES SA. This acquisition is the second major step in deploying its strategy to become a pan-European leader in the insulated panels segment (see also press release of 21 December 2023).
The acquisition price was paid in cash for an enterprise value of EUR 70 million. REX will be consolidated in Recticel’s financial statements as from 10 January 2024.
Jan Vergote (CEO Recticel Group): “The acquisition of REX strengthens Recticel’s core purpose to become a leader in high-end sustainable construction through smart insulation solutions. I’m very satisfied that the closing of the transaction went very fast and smoothly.
REX is specialized in the production of PIR and mineral wool insulated panels for the construction industry and is perfectly located in Belgium to serve Western European markets. We look forward to start the cooperation with the REX team.”