Aalter, Tuesday 29 November 2022 – Three Belgian distributors and manufacturers of cleaning products and materials are merging into one group. This instantly makes Salubris the third-largest player on the Belgian market. The new group aims to improve the existing offering for large customers such as cleaning companies, care institutions and industrial companies, but also intends to boost new product innovation.
In the new cleaning group, three existing companies join forces: Essef, Salubris and Igepa Cleaning. The initiative for the formation of this new group lies with Laurent Sintobin (Essef). Following Essef’s acquisition of Salubris in October 2022, an agreement has now also been reached with Igepa for the integration of Igepa Cleaning. In the process, Igepa will become a minority shareholder in the new group. The new combined group will operate under the Salubris brand name going forward.
Salubris continues to focus primarily on corporate customers: large cleaning companies, industrials, healthcare institutions, schools, governmental bodies, … Its main activity is the distribution of cleaning products and equipment. In addition to its wide range of branded products, the new group has its own private label called KOALA under which it distributes hygienic paper, detergents and small maintenance materials among other products. The group also has its own local production facility, which will be continued.
In the B2B cleaning market, BOMA is the current market leader. Combining Essef, Salubris and Igepa Cleaning creates the third major player on the Belgian market. “With this strong new group, we can be ambitious.”, says Laurent Sintobin, who will become chairman of the new group’s board of directors. “We want to further consolidate our market position. We aim to accomplish that by growing organically as well as through acquisitions.”
Diversify product offering and innovation
Salubris’ current site in Aalter will become the group’s base of operations going forward. It will house between 60 and 70 employees; the current workforce will be retained entirely.
Investment fund Vectis led the merger between the three cleaning distributors and is also investing in the share capital of Salubris. The capital increase will allow the new combined group to diversify and further expand its existing product range. In addition to the distribution of cleaning products and materials from well-known brands, the group will innovate its own private-label products.
Filip Peeters, CEO of Salubris: “We are convinced that one plus one plus one equals more than three. Salubris operates in a stable and future-proof market. Especially for our customers, such as industrial companies or care institutions, maintenance and hygiene are critical. With our new structure, we are set to write a growth story in the coming years and play a leading role in the distribution of cleaning and hygiene products.”
Article in de Tijd: https://www.tijd.be/ondernemen/chemie/fusie-creeert-nieuwe-nummer-drie-op-schoonmaakmarkt/10431085.html (PDF version)
About Vectis Private Equity
Vectis Private Equity is an independent private equity fund that focuses on investments in Belgian SMEs and manages ca. 125 million EURO in assets. The team has years of experience in accompanying SMEs in their growth and is very familiar with the challenges these companies face. Since its creation, more than 15 years ago, Vectis has invested in more than 30 Belgian companies and has also realised about 20 additional add-on acquisitions. This makes Vectis one of the most active private equity investors in this segment of the Belgian market.