Ardex announced that it has become the majority shareholder in wedi GmbH, a leading manufacturer of high-quality watertight shower and construction products, based in Emsdetten, Germany. While Ardex stated that this move is the largest acquisition in the company’s history, both parties agreed not to disclose financial terms of the transaction.
Plans call for wedi to continue to operate independently as part of the Ardex Group. In addition, Stephan Wedi and Fabian Rechlin will remain in place as wedi’s managing directors. Wedi will also continue in his shareholder role.
According to Mark Eslamlooy, CEO of the Ardex Group, “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. As family-run companies, we also share a common understanding of the importance of customer proximity, innovation and quality.”
The managing directors of wedi noted that the international Ardex network and the complementary strengths in product areas were important factors in wedi’s decision.
“Ardex is a perfect growth accelerator for us—one only has to think of the many global markets and the joint innovation potential. 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. To this, we will also implement the already planned capacity expansions together with Ardex,” stated Wedi.
While wedi is already successful in Europe, it has helped grow its market leader position in North America with the 2017 opening of a factory in Batavia, Ill. According to Rechlin, “Wedi and Ardex complement one another excellently—not just in Germany and Europe, but also in other core markets such as the U.S., Australia and New Zealand. The innovative strength of the Ardex Group is enormous, and as a result, we expect to make considerable advances.”
Ardex stressed that wedi’s “trading name, location, brand name and marketing strategy will not change; nor will the contact people for clients and suppliers.”