IPCOM acquired a 100% stake in AZ FLEX Kft. and its subsidiary Adhesive Hungary Kft., part of the AZ FLEX group.
- Further strengthening our position in the Hungarian market
- Expanding our activities in the field of technical insulation and manufacturing
- Expanding our product portfolio
IPCOM NV, a pan-European market leader in the distribution and conversion of technical insulation, high temperature solutions, passive fire protection systems and acoustic insulation, today announces the acquisition of all shares in AZ FLEX Kft. and its subsidiary Adhesive Hungary Kft.
AZ FLEX Kft., based in Budapest, was founded in 2006 and is a wholesaler of technical insulation, cladding systems, fire protection products and fixing materials. From 2020, the company became a manufacturer of air duct systems with a production unit in Debrecen. In this segment, products are also made to order according to customers' requirements. Adhesive Hungary, a subsidiary, deals specifically with the trade of various technical insulation materials. They serve their customers through a national network of 3 warehouses and a central office.
AZ FLEX Hungary Kft. has a turnover of around 6.2 million euros with 30 employees. The acquisition is fully in line with our ISOPARTNER business unit, which is a European leader in the field of technical insulation, conversion and distribution services.
"We are excited to work with the IPCOM Group team as we work towards continued growth. IPCOM has the resources and partnership experience we need to take our company to the next level," said Gábor Félegyházi, Managing Director of AZ FLEX Kft.
"We are delighted to have acquired AZ FLEX Kft and look forward to working with their experienced team to take advantage of the significant market opportunities in Hungary. With this acquisition we accelerate our growth plans in the technical insulation and customized products market. We are confident that together we can further build the Group's reputation as a leading international partner for technical insulation solutions for our customers and suppliers," said Remco Boerefijn, CEO of IPCOM NV..
About IPCOM: Based in Belgium, IPCOM is an ambitious and fast-growing pan-European group of companies specialising in the distribution and adaptation of innovative solutions for thermal insulation, high temperature insulation, passive fire protection and acoustic insulation. IPCOM's customers are installers, international contractors, wholesalers and OEMs active in a wide range of industries and markets. IPCOM employs more than 1100 people and delivers its solutions through a network of more than 65 distribution points in 15 European countries.
To learn more, visit https://www.ipcom.be and https://azflex.hu/