ARDEX TAKES MAJORITY SHAREHOLDING IN WEDI
Ardex, the construction chemicals specialist, has acquired a majority shareholding in wedi GmbH, a leading manufacturer of system solutions for high-quality wet room solutions, making this the largest acquisition in Ardex’s history.
The company’s intention is that wedi will continue to operate independently. Stephan Wedi and Fabian Rechlin will remain in place as joint managing directors of wedi, and Stephan Wedi will also continue in his shareholder role.
For Mark Eslamlooy, CEO of the Ardex Group, this cooperation is an important milestone in the development of the company. He says: “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.”
The managing directors of wedi, Stephan Wedi and Fabian Rechlin, also regard the cooperation as beneficial for the two companies. Above all, the international Ardex network and the complementary strengths in different product areas were an important factor for wedi in reaching its decision.
“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.
wedi is already very successful in Europe, and in particular in Germany and France, and it is the market leader in North America, and since 2017 has had its own factory in Batavia, Illinois.
“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. The innovative strength of the Ardex Group is enormous, and as a result, we expect to make considerable advances,” adds Fabian Rechlin. “Our partners in the trade have long been encouraging us to take a major step forward. We are doing so now.”
The parties have agreed not to disclose the economic terms of the cooperation.
Picture: Mark Eslamlooy (left), Stephan Wedi (centre), Fabian Rechlin (right)