Hexpol

HEXPOL has previously signed an agreement to acquire 80 percent of the shares in Kabkom Kimya Sanayi ve Ticaret Anonim Şirketi (Kabkom) from the founders Mr. Erdem Eker, Mr. Özgür İpek and Mr. Bekir Güler. Kabkom was founded in 2011 and has grown to become the largest independent cable compounder in Turkey. The company specializes in high-performance thermoplastic and thermoset cable compounds for the fast growing cable market and serves a wide selection of international and domestic customers. Kabkom operates a brand new state of the art manufacturing facility outside Izmir, Turkey with 70 employees and plenty of open capacity. The company has a turnover of some 30 MEUR and a profitability above the HEXPOL Group.

The acquisition price amounts to 54 MEUR on a cash and debt free basis and is funded by a combination of bank facilities and cash. The closing has now taken place after regulatory approvals. HEXPOL has an option to acquire the remaining shares, and the founders have an option to sell their remaining shares to HEXPOL.