20-12-2022 IPCOM ACQUIRES AZ FLEX KFT
IPCOM NV, a Pan-European leader specialised in distribution and conversion of Thermal, High Temperature, Passive Fire Protection and Noise control insulation solutions today announced that it has acquired all shares of AZ FLEX Kft. and her subsidiary Adhesive Hungary Kft.
AZ FLEX Kft., headquartered in Hungary, Budapest was founded in 2006 and is a wholesaler of technical insulation, cladding, fire stops and fixing materials. Since 2020, the company has become a manufacturer of air distribution equipment with a production unit in Debrecen. In this segment, they also manufacture tailor-made products on customer demand. The subsidiary Adhesive Hungary is specifically engaged in the trade of various insulation materials. Their customers are served via a national network of 3 warehouses and a head office.
AZ FLEX Hungary Kft. generates approximately € 6,2 Mio turnover with 30 employees. The acquisition fits entirely into our business area ISOPARTNER, our leading European service provider in Technical Insulation, Conversion and Distribution.
“We are excited to be partnering with the IPCOM Group teams, as we work to drive continued growth. IPCOM has the resources and partnership experience we need to advance our company to the next level.”, says Gábor Félegyházi, CEO AZ FLEX Kft.
“We are pleased to have acquired AZ FLEX Kft. and look forward to collaborating with their experienced team to capitalise on the significant market opportunities in Hungary. With this acquisition we accelerate our growth plans in technical insulation and tailor-made markets. We are convinced that together we will continue to build on the Group's reputation as the leading international technical insulation solution partner for our customers and suppliers.”, says Remco Boerefijn, CEO IPCOM NV.