NMC and SELIT enter into strategic partnership
NMC International sa and the SELIT Group (SELIT Dämmtechnik GmbH & SELIT-TEC Dämmsysteme GmbH), both leading companies in the development, production and marketing of synthetic foams, are forming a strategic partnership with effect from 1 July 2017.
To this end, NMC is acquiring a majority interest in the SELIT Group, whose former owners, brothers Marco and Rouven Seitner, will become shareholders in NMC. The merger will create a group of companies with over €270 million in annual sales and over 1,600 employees.
NMC (www.nmc.eu) is an internationally active family business based in Luxembourg. It is active in various business areas, including technical insulation to improve energy efficiency, decorative interior, facade and terrace design, sports and leisure, as well as in the areas of impact sound insulation, packaging and industrial applications. With 15 production plants and 10 European sales offices, NMC generated a turnover of 200 million euros in 2016 and employs 1,450 people. The founding Noël family is the reference shareholder of the NMC Group through the Belgian holding company Nomainvest sa, based in Eupen.
The SELIT Group (www.selit.com) is a family-owned company in its third generation, specialising in innovative underlays for floating installation of wood flooring, laminate and vinyl flooring. The Erbes-Büdesheim-based companies SELIT Dämmtechnik GmbH and SELIT-TEC Dämmsysteme GmbH supply major European DIY store chains, specialised retailers and the flooring industry, and employ more than 170 people.
The merger will enable both sides to accelerate the successful growth strategy they have been pursuing in recent years, as the business models of NMC and SELIT complement each other perfectly. Both companies will continue to operate independently in the market and under their own names. The successful and established brand names of both companies will also be retained.
‘NMC and SELIT, as well as the Noël and Seitner families, have known and respected each other for many years. The merger of our companies is a unique opportunity to learn from each other and to further accelerate the growth of the NMC Group. Marco and Rouven Seitner and we are united and strengthened by our commitment to offering end customers a wide range of the best products for improving living comfort in their own four walls,’ comments Hubert Bosten (CEO of NMC International) on the transaction.
‘We have found the ideal partner for SELIT in NMC. There is little overlap in distribution in the main markets. The alliance offers great prospects in terms of geographic expansion and in the further development of our expertise in foam processing. This will make it possible to continue to drive investments at the Erbes-Büdesheim site and to complete the planned capacity expansion,’ adds Marco Seitner, Managing Director of SELIT.
In the future, the management of SELIT will be expanded to include Hubert Bosten (CEO of NMC) in addition to the two existing managing directors Marco and Rouven Seitner. In return, the Seitner brothers will join the NMC board of directors. Mark Penrose (Strategic Business Development Director) will coordinate cross-company internal collaboration. The proven points of contact will remain in place on both sides.
We look forward to a shared future.
Hubert Bosten, CEO NMC
Marco Seitner, Managing Director SELIT
Further information and images of both companies can be found on the websites: www.nmc.eu and www.selit.com.
If you have any questions, please contact:
Ms Lydia Bober, Tel: +49 6731 9670 537, E-Mail: lydia.bober@selit.de
Mr Jürgen Veithen, Tel: +352 26 86 48 63, E-Mail: jurgen.veithen@nmc.eu