Ardex Acquires Majority Share Hold in wedi
According to Ardex, this is the largest acquisition in the company’s history.
“There could be no better way to enhance our systems competence — Ardex and wedi are two strong brands which complement one another in an ideal manner,” says Ardex CEO, Mark Eslamlooy. “As family-run companies, we also share a common understanding of the importance of customer proximity, innovation and quality. All in all, it is the perfect basis for a successful cooperation.”
In spite of the acquisition, wedi will continue to operate as a stand-alone company within Ardex. In addition, Stephan Wedi and Fabian Rechlin will remain in place as managing directors. The trading name, location, brand name and marketing strategy will not change either, nor will the contact persons for clients and suppliers.
“It was of tremendous importance to us that we find a partner with whom we can safeguard our independence and contribute our strengths to ensure joint growth,” says Wedi. “To this, we will also implement the already planned capacity expansions together with Ardex. The matter is one very close to my heart and from the very outset my gut feeling about Ardex was extremely positive.”
A leading manufacturer of systems for high-quality wet room solutions, wedi began as a one-man operation in 1983, with the invention of a completely watertight building board that is still the company’s trademark. Now, the German-based company is active in more than 50 countries, has more than 500 employees and a further production site in the U.S.
Founded in 1949, Ardex has been pursuing a sustainable growth path for more than 70 years. The company has more than 3,900 employees, is present in more than 100 countries and boasts more than 10 major brands.
Both parties have agreed not to disclose the economic terms of the acquisition.