Soudal makes most expensive acquisition ever in full COVID-19 crisis

TURNHOUT - In Sharjah / Dubai, the Turnhout-based producer of adhesives, sealants and PU foams takes over the company Al Muqarram Insulation Material Industry LLC, a family-owned group of companies consisting of 3 companies with 2 production sites.

Al Muqarram Insulation Material Industry LLC has production facilities in two locations in the Emirates: Sharjah and Umm Al Quwain, with a total of 250 employees. The company, founded in 1999, produces a number of brands, the most important of which is Dolphin. In 2020, Al Muqarram was nominated as one of the "Super Brands 2020" and the company received the prestigious "Sharjah's Excellence Award".

Both in terms of product range and geographically, Al Muqarram has a high complementarity with Soudal. The company has a very strong commercial position in the Gulf, East Africa and Southwest Asia, which are not unknown to Soudal, but are less developed markets. The extensive product range, including sealants and foams, includes a number of products that will generate complementary business for Soudal, such as tapes, certain adhesives and aerosols.

Dirk Coorevits, CEO of Soudal and nominated for Manager of the Year for the third time by Trends earlier this month, is pleased with the acquisition: “We are proud of this new international acquisition, this time in an explosively growing construction market such as the Middle East . Al Muqarram's mission statement, "High quality at par with local standards" ties in very well with Soudal's "Think global, act local". As a local producer, they are firmly anchored in their region, as evidenced by the various "Civil Defense Certificates" that the company has to its name. This acquisition is also closely in line with our international growth ambitions and our philosophy of producing close to the market.”