TeraPlast Group kicks off 2024 on a strong note announcing a major acquisition. Following successful negotiations, the agreement for the acquisition of the Wolfgang Freiler Group from the Uhl family in Austria has been signed. The entity holds modern production facilities in Hungary and a dynamic distribution division across multiple Central and Western European markets.
The transaction value has been set at EUR 16.53 million, covered from mixed sources (internal and bank financing), with an additional earn-out mechanism based on the EBITDA performance of the Freiler Group in 2024.
The acquisition extends and complements TeraPlast Group's product portfolio, facilitating the access to new, high potential markets in Central and Western Europe. Therefore, the business structure subject to the transaction represents a significant step in the expansion of the Group's exports to Western Europe.
„We now formalize the outcome of a meticulous analysis, and precise opportunity calculations. The entire business environment should pursue long-term expansion and development plans, carrying Romanian products and capital throughout Europe, rather than slowing down due to fear of conflicts or being discouraged by those who have less faith in their prospects. In recent years, we have made substantial investments and achieved a successful exit, navigating through armed conflicts and a pandemic. With this acquisition, ambitious plans regarding Western markets emerge." stated Mr Dorel Goia, Chairman of the TeraPlast Board of Directors.
Wolfgang Freiler Group was acquired from the Uhl family, engaged in diverse sectors, including construction, real estate, and hospitality. Polytech and Pro-Moulding, the two subsidiaries of the Wolfgang Freiler Group, carry out production activities in Hungary, while Freiler oversees the distribution activity. Polytech manufactures pipes for the protection of electrical cables and optical fibers, maintaining a high standard of quality. Pro-Moulding specializes in plastic injection. Another entity of the Group owns an extensive industrial base spanning 5 hectares of land and warehouses in South-West Hungary. The products are marketed in Hungary, the Czech Republic, Austria, Germany, and France, where the companies hold strong market positions. Following the transaction, the 144 employees of the Freiler Group will join TeraPlast Group.
"Our track record proves our proficiency in growing successful polymer processing businesses and we intend to replicate it. We start with a robust industrial base and a favourable geographical position that enables us to better access five additional Western European countries. Furthermore, we acquire businesses with considerable potential in a market where the competition is less intense than in Romania. We will continue the development of the Wolfgang Freiler Group through a EUR 2 million investment in expanding the product portfolio for infrastructure and enhance our competitiveness in the region." added Mr Alexandru Stânean, CEO of TeraPlast.
In 2022, Freiler’s turnover reached EUR 31 million, while EBITDA stood at almost EUR 4 million, with a 12% EBITDA margin.
The information provided by KomuniK
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