VEDAG joins the ICOPAL Group
16-10-2007
Two leading providers of waterproofing solutions join forces.
Icopal, the world leader in waterproofing solutions and building protection, headquartered in Copenhagen, Denmark, today announced the acquisition of VEDAG Group, headquartered in Frankfurt, Germany.
Two strong brands renowned for customer focus and quality products.
The VEDAG and ICOPAL organizations will continue to serve their respective established customer bases independently. Both brands are highly respected in the marketplace for their focus on reliability, technical innovation and service excellence, and offer complementary product ranges.
By joining forces the two groups intend to increase their common potential for expansion in the new and fast growing markets of Central and Eastern Europe and China.
"After building up a new spirit in VEDAG we have been looking for additional alternatives for the further development of our business. Joining the Icopal Group is clearly the best option for VEDAG and will strengthen us when facing the challenges in the near future. Our dedicated team together with our more than 160 year old history makes a ’perfect match’ with Icopal, the world’s leading Group in the Waterproofing Market says Georg Graf von Khevenhüller-Metsch"
“I am very pleased and proud that VEDAG with its highly regarded workforce and its prestigious track record has accepted to become part of our Group. By joining forces we will further increase our ability to provide our customers with the best products and solutions money can buy. This transaction is another significant step in our Group's growth strategy, with the aim of being an increasingly resourceful and reliable long term partner for our customers”, says Martin Ellis, Group CEO, Icopal.
The transaction is subject to approval of the German Merger Control Authorities.
For further information please contact Mr. Martin H. Ellis, tel. +45 5123 5509 or Mr. Georg Graf von Khevenhüller-Metsch, tel +49 69 4084 290
VEDAG profile
VEDAG includes both high-end and standard roofing and waterproofing solutions and materials for road construction (Polymer Modified Bitumen) in its business portfolio. The production sites of VEDAG in Bamberg (Bavaria) and Philippsburg (near Karlsruhe) in Germany and VEDAG's production in the Czech Republic will be maintained, complementing present Icopal production facilities in Werne (near Dortmund) and Saarwellingen (Saarland).Outside Germany the VEDAG Group has widespread activities in European countries like UK, Slovakia, Czech Republic, Poland and Bulgaria and as well in the Chinese market. VEDAG has a turnover of around 140 M€ and employs some 350 people. For further information please visit www.vedag.com
Icopal profile
Icopal is the world’s leader in waterproofing solutions and building protections. The activities include supplying bitumen membranes for roofing, waterproofing and civil engineering and being the leading roof and metal contractor in the Nordic countries. Icopal has a turnover of more than 1.1 Bill€ and employs some 4200 people (including VEDAG). Icopal operates worldwide and has 35 manufacturing sites and 91 offices in Europe, North America and Asia. Icopal is owned by Investcorp. For further information please visit www.icopal.com