Straco, the investment vehicle of the De Raedt-Verheyden laboratory family, has found a buyer for Incendin. This company specialises in fire-resistant and fire-retardant products, such as powders and liquids that are applied to wooden panels or posters, fire extinguishers and (sustainable) additives for foam extinguishers. Among other things, it developed a fluorine-free solution for fire extinguishers.
The buyer is the French-British private equity company Fremman. The Italian investment fund Ambienta won the argument, although according to our information it dropped out a few months ago. The acquisition price is not known.
Market leader in Europe
Incendin from Willebroek had been largely owned by Straco since the beginning of 2022. But at the beginning of last year, the company decided to put that participation up for sale. The American investment bank Baird is supervising that process.
Incendin, which is the European market leader in several niches in both passive and active fire protection, bought its Italian peer Prophos Chemicals, a company specializing in fire protection products and flame retardants for wood panels, in mid-2024. The group recorded a turnover of around 92 million euros in 2024, about 20 percent more than the previous year. The gross operating profit (EBITDA) came in at 24.5 million euros.