16-12-2022 IPCOM ACQUIRES A MAJORITY STAKE IN MARTINELLO SPA
IPCOM NV, a Pan-European leader specialised in distribution and conversion of Thermal, High Temperature, Passive Fire Protection and Noise control insulation solutions today announces that it has acquired a majority stake in MARTINELLO Spa.
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Further strengthening its overall position in tailor-made insulation solutions
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Entry into the attractive Italian market
MARTINELLO, located in Noventa Padovana, Italy, has more than 50 years of experience in technical insulation solutions and is as well active in the research & development of new materials and production of specific parts on customer demand. MARTINELLO is specialized in domestic appliances, heat exchangers, burners, hydrogen-ready applications, pellet stoves, fire places, HVAC and HORECA. In recent years, high-tech machinery has been added to the production chain to ensure further growth and to meet customers' orders.
The company generated sales of €17 million euro in 2021 with approximately 50 employees.
MARTINELLO’s complementary product portfolios in high temperature and technical accessories will also enable IPCOM Group's subsidiaries, in particular, the INSULCON Group & the FLEXICEL Group, to broaden their range of products to customers in Italy and abroad.
We are extremely proud of the legacy our team has built around consistently delivering high-quality products and enabling our customers to achieve their technology goals. I look forward to seeing the company continue to grow within the IPCOM Group, says Cesare Ceni, CEO MARTINELLO Spa.
We are very happy to welcome the MARTINELLO team within the IPCOM Group. By strengthening our presence in Italy in the segments of high temperature and OEM solutions, we are taking another step in IPCOM’s growth ambition. This is fully aligned with the Group’s strategy to further develop our leading European position and to meet the growing demand of our customers for tailor-made solutions. We are also very pleased that Mr. Cesare Ceni will remain an important shareholder and that he will continue to lead the business as General manager. We look forward to a fruitful collaboration and to realize our growth plans together.”, says Remco Boerefijn, CEO IPCOM.
