Chemogas Belgium acquires Stereo Group in strategic move to strengthen Asian position
Less than two years following a management buy-out backed by Gilde Equity Management from The Linde Group, Belgium-based Chemogas strengthens its portfolio by acquiring Stereo Group, a sterilization gases distributor with significant market presence in the Asia-Pacific region.
Dirk Battig, CEO of Chemogas, hails the investment as a strategic move that will solidify Chemogas’ position as the world`s leading sterilization gases supplier to the medical industry with a service and logistics network in over 70 countries. Citing Stereo’s strong foothold in the Southeast Asian countries of Hongkong, Malaysia, the Philippines and Singapore as well as Australia, he says, “The vertical integration of the Stereo Group is the logical next step to strengthen Chemogas’ focus on this important high-growth region.”
Calling the deal a “perfect match”, Christophe Marque, President and Owner of Stereo says, “Our regional strength in the EtO market combined with positive growth perspectives makes us a natural fit for Chemogas' global know-how and reliable sourcing. We are very happy to have successfully sealed this important deal.”
Headquartered in Kuala Lumpur, Malaysia, Stereo operates EtO filling and blending installations and exports to the Asia-Pacific region, including Australia and New Zealand. Anticipating demand to rise in the light of strong market expansion over the last five years, Stereo is building an EtO filling and mixing plant in Manila to cater to the growing local medical devices market in the Philippines.
Frederic Van den Weghe of Gilde Equity Management comments: “We supported Chemogas management in their management buy-out with a clear goal to facilitate Chemogas’ successful international growth path and its strategy of tapping into new product segments and targeting new geographies, fuelled by a growing market share of ethylene oxide for the global sterilization market. We are happy to welcome Christophe Marque on board and will further look for global growth opportunities, enabling Chemogas to further strengthen its leading position as international reference supplier of packaged specialty gases.”
Founded in 1975, Chemogas was a member of The Linde Group for 26 years. The company operates filling and blending facilities for chemical gases in Grimbergen, Belgium and is the leading packed gases waste treatment company in Europe under ISO 9001, 14001 and OHSAS 18001 conditions. It is one of the premier global providers of packaged ethylene oxide to the worldwide medical sterilization industry. Chemogas also supplies natural refrigerant gases (like ammonia and propylene) and other specialty gases, to clients within more than 70 countries.
Established in 2008, Stereo is accredited by ISO 9001, 14001, OHSAS 18001 and ISO 13485 for medical devices.
About Gilde Equity Management (GEM) Benelux
Gilde Equity Management (GEM) Benelux is an independent private equity firm with over EUR 1 Billion in committed capital. With a track record of more than 50 buy-outs, Gilde is one of the leading investors in medium-sized companies in the Benelux and has achieved successful international growth for many companies. Examples of investments of Gilde are: Belgium based Actief Interim, one of the leading independent staffing agencies in Western-Europe; Fruity Line, a producer of premium freshly squeezed fruit and vegetable juices and smoothies; and Dunlop Protective Footwear, the oldest manufacturer of boots in the Netherlands that has become the global market leader; For more information please visit www.gembenelux.com be
Grimbergen, March 2018