Incendin manufactures specialized, environmentally friendly and innovative formulations for fire-resistant and fire-retardant applications used in the production of wood panels, textiles, portable fire extinguishers and specialised extinguishing systems. The company has a broad portfolio of in-house developed high-tech products thanks to its specialized in-house R&D lab.
The group, headquartered in Willebroek, has two production sites in Belgium and sells from offices in Belgium, Germany, the United Kingdom and France to the rest of the world, generating a turnover of EUR 65 million.
Incendin was founded in 2000 by three Flemish entrepreneurs under the name Ecochem, after which GIMV invested in 2014 to build an acquisition platform under the Incendin banner. Together with the founders and management, GIMV realised five successful acquisitions. Management headed by Tom Paemeleire remains on board with the founders to continue the ambitious growth plan together with Straco.
With Straco's support, Incendin wants to continue to grow through international acquisitions to strengthen its European market leadership. Incendin is Straco's fifth acquisition. Earlier this year, the Belgian investment holding company also set up an office in Amsterdam to further expand its private equity strategy.