July 1, 2022
(press release)
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With reference to the stock exchange notice of
BalPol, which was established in 2002, has approximately 150 employees and currently operates two downstream facilities, whereas one facility produces PIR and MW sandwich panels and PIR insulation boards, while the other produces insulation solutions from EPS for construction and packaging products from EPS and EPE. "By acquiring BalPol, we expand our geographic presence, establishing a leading position in
BalPol demonstrated solid growth and improved profitability in 2021, recording revenues of approximately
The agreed consideration is in line with BEWI's historical M&As, i.e., with an EV/ EBITDA multiple in the range of 5 to 7, whereas 50 per cent will be settled in cash and 50 per cent through issuance of consideration shares in
"The acquisition is in line with our current communicated M&A priorities. We believe in the fundamentals for insulation solutions, where improved energy efficiency is crucial going forward, both due to high energy prices and to reduce the environmental impact of heating and ventilation of buildings," Bekken continues. "BalPol has a strong management team that we look forward to working with. We share the same vision for the value our products bring to the society and for the responsibility to create circular value chains going forward. Through this acquisition, we also get an important platform for our circular activities in the Baltics," Bekken concludes. Closing of the acquisition is conditional upon customary conditions and is expected in the third quarter of 2022. Contact:
About
BEWI is an international provider of packaging, components, and insulation solutions. The company's commitment to sustainability is integrated throughout the value chain, from production of raw materials and end goods, to recycling of used products. With a vision to protect people and goods for a better every day, BEWI is leading the change towards a circular economy.
The information is such that
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