Gimv acquires EcoChem

Prior to the transaction, EcoChem was owned by three shareholders: founders Herman Meynaerts and Pieter Daeseleire, and former Azelis CEO and Common Ground partner Joris Coppye.

Meynaerts and Daeseleire have reinvested in the business alongside Gimv. Coppye has also reinvested, and has joined the company's management team.

Under Gimv's ownership, EcoChem intends to enter new markets and strengthen its current position in existing markets. The company also plans on exploring new product segments.

Company
Founded in 2000, EcoChem is headquartered in Olen with a further two production facilities in Willebroek, Belgium, and Offenbach an der Queich in Germany.

The company develops eco-friendly flame retardant additives. Its products are mainly used in the building and construction, transportation and electronic application industries.

EcoChem creates additives for wood, natural insulation, paper, plastics, resins, textiles, coatings and sealants. It also makes chemicals for fire-extinguishing powder and fire-extinguishing water additives.

The company operates across 25 countries, generating turnover of around €25m.

People
Herman Meynaerts and Pieter Daeseleire are the founders of EcoChem. Matthias Vandepitte is a principal at Gimv.

Advisers
Equity – Cresco Law, David Dessers, Pieter Capiau (Legal); PwC, Didier De Smet, Pieter Wygaerts (Financial due diligence, tax).

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• Benelux
• Buyouts
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• Belgium
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• Unq2015Jan