Ardex, a German-based construction chemicals specialist, announced that the company is taking up a majority shareholding in wedi GmbH based in Emsdetten, Germany.
“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 cooperation,” said Mark Eslamlooy, chief executive officer of the Ardex Group.
“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,” says Stephan Wedi, managing director of wedi.
Both companies will retain their independence. In the future wedi will be a stand-alone company within the Ardex Group – headed by its current managing directors Stephan Wedi and Fabian Rechlin. The trading name, location, brand name, and marketing strategy will not change. The same is true of the contact persons for clients and suppliers.
The parties have agreed not to disclose the economic terms of the cooperation. Metzler Corporate Finance exclusively supported wedi in the transaction as M&A advisor.