Preface by our CEO, Remco Boerefijn
We are experiencing hectic times. The war in Ukraine has a big and terrible impact on many people. It also has an impact on Europe in general. The issues related to the prices and availability of many raw materials and industrial products have become even bigger.
Every day, every team within IPCOM is confronted with these problems and this requires enormous efforts. Thanks to you all, these daily efforts have reflected in a positive first quarter result! However, it will remain a challenge for the remainder of 2022.
Luckily the impact of COVID-19 has reduced a lot during the last months. We can only hope that next autumn and winter don’t bring back new waves of infections or restrictions.
Our acquisition strategy is well on track.
Mid-April, we acquired 100% of the shares of WOLF Blechbearbeitung. A German converter, which produces customized products, mainly in the metal cladding sector. With this acquisition, ISOPARTNER Germany expands further nationwide and can meet its customers with more specific requests. It also creates synergies with our existing converting companies.
Most recently, we have finalized the acquisition of TEMATI Group, a Dutch company in insulation protection and ancillary materials, which fits seamlessly into our business unit “the INSULCON Group”. Both TEMATI and INSULCON are mostly active in industrial markets and both produce removable insulation mattresses. This new deal, therefore, strengthens our position in the industrial markets, and it makes us the exclusive distributor of H.B. Fuller for Foster® in Europe. Other acquisition projects are still in progress, but more about this in our next edition.
Also, our rebranding projects are progressing well. As of April 1, 2022, AIS Technical based in the U.K. has become INSULCON Technical. A stronger brand, a stronger market presence, a bigger company. Furthermore, the Austrian IDT team is currently implementing the rollout of the ISOPARTNER brand in their country. The Regisol colleagues in Switzerland will soon start their own rebranding process too. All these teams are working hard to get the brand ready internally and externally. To all these teams, well done, you are doing a great job!
In addition, various other projects are running within our companies, and via this newsletter, we want to inform you about those as well. Be sure to read it!
Best regards
Remco Boerefijn
