Clearwater International has advised the shareholders of SELIT Dämmtechnik GmbH and SELIT-TEC Dämmsysteme GmbH (SELIT) on the formation of a strategic alliance with NMC International sa (NMC).
SELIT is a third-generation family business, headquartered in Erbes-Büdesheim, Germany, founded in 1948 and led by managing shareholders Marco and Rouven Seitner. The company has approx. 170 employees and is an established Europe-leading supplier of high-quality underlayment products for the laminate, parquet, and vinyl flooring segment. SELIT’s product portfolio of more than 10 product lines comprises acoustic and thermal insulation products for use with floating floorings and is to a large extent based on polystyrene foams. Its customer base includes the largest players in the European DIY retail segment alongside top-tier laminate, parquet, and vinyl flooring manufacturers.
NMC, founded in 1950 and headquartered in Eynatten, Belgium, is a leading specialist for synthetic foam products. The product offering includes insulation materials, façade elements, and packaging as well as sport and leisure products such as yoga mats and swimming toys. Due to the wide product range, the company serves customers from both the industrial and private sectors. NMC has a broad footprint, encompassing the Benelux countries, the UK, Eastern Europe, Russia and Brazil. With more than 1,200 employees, NMC realises an annual turnover of approx. €200m.
NMC joins the family owners at SELIT as a long-term shareholder. The family shareholders will remain in the management of SELIT and will continue to contribute to the future development of the company.
In its home market in Western Europe, SELIT holds the largest market share and has demonstrated strong growth performance in recent years. The company is perceived as the unrivalled innovative and technological leader in the underlayment niche segment. With the strategic alliance, the managing shareholders have won a reliable partner to inaugurate a new stage of international growth beyond its core market. SELIT may also trade-up on NMC’s relationships to specialist shops representing a new sales channel for underlayment products.
For NMC, the strategic alliance represents a milestone in its company history – SELIT will account for a quarter of combined revenues. At the same time, NMC is becoming the European leader in the field of laminate, parquet and vinyl and is also gaining established customer relationships with top-tier European DIY companies and flooring industry players.
Both companies intend to build upon their strong material expertise and production efficiencies. Together they want to provide their long-term customers with a broader range of solutions and are already planning the next steps towards an international expansion of SELIT’s products. Thereby, the production capacities of SELIT will be further enhanced in the coming years. One example is the construction of an additional warehouse with 8,000m2 of storage space at the SELIT production site in Erbes-Büdesheim.
The Clearwater International team was led by Managing Partner Ralph Schmücking with support from Associate Daniel Stratenhoff and Analysts Siyao Cheng and Michael Frohschauer.
Marco Seitner, Managing Shareholder, Selit commented: “NMC has emerged as our preferred partner due to a very strong cultural fit between NMC and SELIT. Moreover, we are looking forward to providing our longstanding customers with an even broader range of innovative products. We are pleased that the first step towards international expansion is now ensured and we are confident about the further successful development of SELIT.”
Hubert Bosten, CEO, NMC added: “SELIT and NMC unites the everlasting focus on innovative and technological excellence. Fortunately, two like-minded entrepreneurial families have found each other. Marco and Rouven Seitner, who have decisively influenced the success of SELIT, will continue to contribute their expertise and experience to SELIT and will also add extraordinary value to NMC.”
Ralph Schmücking, Managing Partner, Clearwater International said: “SELIT is a great firm and one of the hidden champions in our strong German Owner Managed Business (OMB) segment. NMC is a well suited entrepreneurial partner for a strategic alliance in their joint international expansion.”