Euroglas joins forces with the French glass group Riou Glass.M&A-advisor sell-side
Riou Glass, a French specialist in insulating glass units with high energy and environmental performance, has acquired, together with the management team, the Belgian company Glass Invest – the holding above Euroglas-De Landtsheer, Safetyglass and Industrial Glass Processing – from Dovesco, a Belgian family owned investment company.
By joining forces, the two glass processors aim to achieve industrial and commercial synergies to develop their respective businesses, in particular by marketing RIOU Glass’ products in the Benelux and Euroglas’ range of tempered glass and fittings in France.
Frederik De Knijf, CEO of Euroglas: “We are excited to be joining forces with Riou as we as we look to further expand our one-stop-shop strategy. Combining our shared solutions and expertise is a great opportunity for our clients. We are also very grateful to Dovesco for their active contribution in our successful transformation and growth over the past years.”
Christine Riou Feron, President of RIOU Glass, added: “With Euroglas, we share family values and industrial know-how that are both common and complementary. Through the combination our two companies, we can build the future together, learning from each other’s best practices.”
Gregory De Clerck, Managing Partner of Dovesco, explains: “At the core of Dovesco’s investment philosophy, we have backed the strong and entrepreneurial management team on its successful journey from a regional champion to a market leader. As the business has reached a scale to expand to new markets, now is the right time for them to join with a new partner and we wish them every success with Riou”
Founded in 1979 by Pierre and Christiane Riou, RIOU Glass is a French family-owned company specialising in the design of intelligent glass products and solutions for the well-being, comfort and safety of all. Today, the company is managed by the second generation, Christine Riou Feron, and has a consolidated turnover of around €220 million per year, making it a major European player contributing to the technological development of its sector through its capacity for investment and innovation.
RIOU Glass manufactures and processes 100,000 tonnes of flat glass every year and offers its customers a wide range of high added-value glass products, from design or technical glass for high security to insulating glass with high energy and environmental performance, for the building, transport and other industries.
Based in Honfleur (Calvados), RIOU Glass has a local network of 21 industrial sites, 17 in France, 3 in Belgium and 1 in Italy, as well as an international sales presence in Western Europe, the Indian Ocean and North America. As a human and caring company, RIOU Glass helps its 1,000 employees to express their talent on a daily basis so that we can grow together in a sustainable and warmer world.
For more information, www.riouglass.com
Founded in 1964, Euroglas became a key player in the processing of flat glass, specialising in tempered and laminated products (glass doors, interior partitions, shower enclosures, etc.) and associated accessories (fittings, hinges, etc.) for the building and decoration sectors in the Benelux. Euroglas expanded through two external growth operations: the acquisition of Safetyglass in 2006, then of IGP at the end of 2017, by the historic company Euroglas-De Landtsheer. The latter companies now have a consolidated turnover of about 31 million euro in 2021 and employ about 160 people.
For more information, www.euroglas-dl.com
Dovesco is a leading Belgian investment company. Dovesco is active in the chemicals industry via Domo Chemicals and real estate via Alinso Group and has a portfolio of private equity investments in the mid-market via Dovesco Private Equity.
The investment strategy of Dovesco Private Equity is to partner with ambitious entrepreneurs and management teams to accelerate the growth of their businesses, both organically, or where appropriate through strategic acquisitions. Dovesco Private Equity invests in profitable businesses with leading market positions, managed by strong entrepreneurs and/or management teams. Dovesco Private Equity has over the last years made more than 30 investments.
For more information, www.dovesco.com