Witten, Germany—Ardex is taking up a majority shareholding in Wedi GmbH, a leading manufacturer of system solutions for high-quality wet room solutions based in Emsdetten, Germany. It is the largest acquisition in the company’s history, according to the company.
Mark Eslamlooy, CEO of Ardex, said the cooperation is a milestone in the development of the company and is delighted for future collaborations. “There could be no better way to enhance our systems competence,” Eslamlooy said. “Ardex and Wedi are two strong brands that 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.”
The managing directors of Wedi, Stephan Wedi and Fabian Rechlin, said they lso regard the cooperation as tremendously beneficial for the two companies. Above all the international Ardex network and the complementary strengths in the product areas were an important factor for Wedi in reaching its decision.
“Ardex is a perfect growth accelerator for us,” Wedi said. “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.”
According to Wedi, it is already very successful in Europe and has been the market leader in North America since 2017 with its own factory in Batavia, Ill. The objective of the cooperation with the other companies in the Ardex Group is that of developing this position. “Wedi and Ardex complement one another excellently, not just in Germany, but also in other core markets such as the USA, Australia and New Zealand, France, England, Austria, Switzerland or Benelux,” Rechlin said.
In the future, Wedi said it will be a stand-alone company within the Ardex Group. The trading name, location, brand name and marketing strategy will not change either. The same is true of the contact persons for clients and suppliers.
According to both companies, they have agreed not to disclose the economic terms of the cooperation. Metzler Corporate Finance exclusively supported Wedi in the transaction as M&A advisor.