Nordic Waterproofing Group has acquired Distri Pond Group (“Distri Pond”), which includes the two operating companies Distri Pond NV and Pond Technics & Training BVBA. The company is a leading distributor of pond systems on the Belgian market, with annual sales of approximately 10.5 million euros and 23 employees. The acquisition fits fully into SealEco’s vertical integration strategy and will increase Nordic Waterproofing’s market share.
Distri Pond was founded in 1992 and is based in Vorst-Laakdal. The company is a leading distributor of pond systems with a one-stop-shop offering on the Belgian market, offering EPDM waterproofing membranes, pumps, filters, control systems, lights and accessories, as well as maintenance and garden applications. The company also provides site preparation, EPDM membrane installation, training, technical support and maintenance.
With this acquisition of Distri Pond, Nordic Waterproofing’s SealEco business unit strengthens its market share regarding the distribution and installation of high-quality pond systems. SealEco currently has one production unit for EPDM membranes in Sweden and prefabrication units in Sweden, the United Kingdom, the Netherlands and Belgium.
“Nordic Waterproofing’s strategy includes broadening our product and service offerings in relevant European markets, and with Distri Pond we get an excellent addition with good geographic growth potential for Nordic Waterproofing and SealEco,” said Martin Ellis, Director and CEO of Nordic Waterproofing Group. “Through the acquisition of Distri Pond, Nordic Waterproofing demonstrates and reinforces its commitment to sustainable and environmentally friendly solutions and environments, as in previous recent acquisitions. We welcome our new colleagues in Belgium to Nordic Waterproofing,” continued Martin Ellis.
“The acquisition of Distri Pond follows our strategic focus of vertical integration to end customers and expands our portfolio of products and services,” said Thomas Zipfel, Business Unit Manager of SealEco. “Distri Pond has developed a strong brand and portfolio of pond systems with a one-stop-shop offering in the Belgian market, where growth is driven by the trend of professional landscapers to install gardens and swim ponds.”
“Distri Pond has always done its best to provide its customers with the best pond solutions.Our dedication has made us a leading player in our industry in Belgium,” said Kristien Meulemans, CEO of Distri Pond. “Becoming part of Nordic Waterproofing takes our growth opportunities to the next level. Nordic Waterproofing’s strong platform gives Distri Pond opportunities for geographic expansion and to offer sustainable and customized pond solutions. Customers are demanding more and more complex ponds, which also requires more technical support. We want to export our unique concept of technical products and on-site assistance to other countries and can now use Nordic Waterproofing’s existing platforms. The strong complementary knowledge and experience of both organizations of Distri Pond and Nordic Waterproofing will further strengthen the company. We are therefore convinced that we will excel even more in satisfying our customers,” Kristien Meulemans continued.
Nordic Waterproofing Holding A/S, the Swedish subsidiary Nordic Waterproofing Group AB, has acquired 100 percent of the shares in Distri Pond for 11.3 million euros on a cash and debt-free basis. Sellers are the company’s management and founders, as well as some private investors. The acquisition is mainly financed by an extension of Nordic Waterproofing’s existing credit facilities. Distri Pond will be consolidated into the “Products & Solutions” segment of the Nordic Waterproofing group as of Feb. 26, 2019. The acquisition is expected to have a slightly positive impact on Nordic Waterproofing’s earnings per share in 2019. After guiding the Smart-Deal in 2017 around the Distri Pond Group, corporate finance house SDM-Valorum has once again ensured a successful transaction involving the acquisition of Distri Pond by Nordic Waterproofing Group AB.
