Recticel completed the acquisition of Trimo from Innova Capital for $174m.

Recticel, a Belgium-based producer and converter of polyurethane foams, completed the acquisition of Trimo, a firm specialized in the production of sustainable premium insulated panels for the construction industry, from Innova Capital, a private equity firm, for $174m. “The acquisition of Trimo clearly marks another important milestone in Recticel’s strategic portfolio reorientation in order to become a pure insulation player. On top of this, I’m very satisfied that the closing of the transaction went very fast and smoothly. Trimo is predominantly geared towards the industrial and commercial building segments and will not only complement our current insulation boards activities but will also expand our geographic presence in the Central and South-Eastern European market,” Olivier Chapelle, Recticel CEO.