OSTENDORF
Acquisition of Spanish competitor Adequa / International presence expanded
German pipe manufacturer Ostendorf Kunststoffe (Vechta; www.ostendorf-kunststoffe.com) is about to take over PVC sewer pipe systems producer Adequa (Alovera / Spain; https://adequa.es). “By acquiring Adequa, we are strengthening our business in Southern and Western Europe, since we are taking over a brand that is strong on the domestic market, thereby gaining access to an extensive customer portfolio,” said Ostendorf CEO Holger Büscherhoff. This acquisition is in line with the German company’s international expansion strategy. The transaction is subject to the usual closing conditions and scheduled to be complete by the third quarter of 2019. According to media reports, Ostendorf is paying a total of EUR 11m in multiple instalments, though the company did not confirm this amount.

The current owner of Adequa is Spanish construction materials group Coemac (Madrid; http://coemac.com). Within the group, the pipe manufacturer generated sales of EUR 62.9m in 2017, with three production sites in Spain – in Alovera, Alcázar de San Juan and Antequera – and 250 employees. Current CEO Fernando Maté and CSO Raúl García will remain at the head of Adequa, which will continue to operate independently on the market.

Ostendorf produces plastic pipes made of polypropylene, PVC and polyethylene for the sanitary sector as well as for structural and civil engineering. By its own account, the company is among the leading manufacturers of sewer pipe systems in Germany, with 2017 sales of EUR 239m. In addition to its Germany-based sites in Vechta, Emstek and Rain, Ostendorf operates facilities in the Czech Republic, Poland and Russia.
02.07.2019 Plasteurope.com [242832-0]
Published on 02.07.2019
Ostendorf: Rohrhersteller erwirbt spanischen Mitbewerber AdequaGerman version of this article...

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