IGEPA BELUX continues on its growth path and acquires Seynhaeve Plastics (B)

The acquisition agreement provides that, on July 1st 2021, Igepa Belux acquires all activities, customers, stock & machines of Seynhaeve Plastics and also the entire workforce.

IGEPA BELUX states that this acquisition fits in with Igepa's strategic corporate vision to diversify and grow in a limited number of markets, including visual communication. Seynhaeve Plastics has been a distributor of plastics for construction and industry since 1965, but also has many customers in the visual communication market.

In addition to the sale of plates, the company is also a producer of skylights and light domes.

With the acquisition of Seynhaeve Plastics, Igepa Belux strengthens its position in the visual communication market. In addition, Igepa Belux becomes active in the sale of plastics for construction and industrial applications. This offers additional growth opportunities.

After the acquisition, Igepa Belux will realize a turnover of 28 million € in this market. Igepa Belux will continue to use the warehouse in Hooglede as from July 1st. To make the acquisition a success and ensure continuity for the customers, the current owner and manager Francis Seynhaeve will play an active role within the Igepa Belux group. He will be responsible for the further growth of the plastics in the building and industry markets. Also daughter Laurence Seynhaeve remains active after the acquisition.

Quote Dirk Salens (CEO Igepa Belux): “This acquisition not only strengthens our position in the visual communication market, but we are also diversifying into the construction and industrial markets. In other words, it is an extra diversification within one of our growth markets. Moreover, we are enriching ourselves with a great deal of knowledge, skill and experience in the world of technical plastics. I believe in the future of the construction and industrial market.

The government and the private sector are planning massif investments in these markets, as part of the recovery policy after the Corona crisis. This acquisition should enable us to participate in this growth.”

Jun 08, 2021

Author: INKISH Benelux