ELASTOFIRM B.V., a leading company active in extrusion and compounding of rubber as well as moulding of Liquid Silicone Rubber (LSR), has acquired a majority stake in Silam Siliconas S.A. (“Silam”), a specialist active in compounding and extrusion of (HCR) silicone.
The ELASTOFIRM Group, headquartered in the Netherlands, is made up of companies specifically focused on the rubber sector with a turnover of €130 million and employing 400 people.
The Group's activity is mainly carried out in Europe (with the Netherlands and Germany being the most prominent countries) and with a clear growth strategy based on the management teams of each company, who maintain responsibility for the direction and management of the company. With this transaction, the SILAM Group increases its growth potential in Europe, accessing more markets and customers, as well as being able to offer our customers a more complete range of products.
Rene Doup, CEO of Elastofirm: “Elastofirm’s current offering mainly consists of rubber compounds and extruded products, along with LSR. The partnership with Silam will enable us to further expand our product portfolio with HTV silicone, a material that plays a pivotal role in for example electrification. On top, collaborating with Silam allows us to further increase our presence across Europe as well as into adjacent end-markets. We are excited that Silam is joining our group and look forward to working with the management team of Silam on pursuing our shared growth ambitions.”
Julio Fernández, General Manager at Silam: “We are proud of the growth Silam has experienced in recent years since our partnership with Espiga Capital, who I would like to thank for their support over the past years. I also would like to share my gratitude to all employees of Silam who have made the company to what it is today. We as a management team are excited to start the next chapter with Elastofirm. We see many opportunities to strengthen each other, amongst others by offering our current and future customers a more comprehensive range of solutions.”
The sellers were advised by Norgestion (Financial) and Albacar Abogados (legal). Elastofirm has been advised by MP Corporate Finance (M&A), Deloitte (Financial), CIL Consultores de Gestión (Commercial), Baker McKenzie (legal) and ERM (environmental).
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