Recticel acquires Miclar Group to deliver integrated
solutions in the insulated panels market
Recticel announces the acquisition of a 76% controlling stake in Miclar Group, a leading Belgian
specialist in industrial façade and roof cladding, light structural steel, and finishing components. This
strategic move enhances service to our end customers and reinforces Recticel’s position in the insulated
panels market. The investment is fully aligned with our commitment to delivering innovative products
and integrated solutions across Europe.
Founded in May 2018, Miclar offers complete solutions for industrial façade and roof cladding. It
operates in Belgium, the Netherlands, France and Sweden. In 2024, Miclar Group reported proforma
sales of EUR 23.7 million and adjusted EBITDA of EUR 4.7 million.
The acquisition was paid in cash for an enterprise value of EUR 20.5 million. Miclar Group will be
consolidated in Recticel’s financial statements as from 1 December 2025.
Jan Vergote, Chief Executive Officer Recticel Group, commented:
“Miclar’s rapid growth and service-driven approach make it an ideal partner for Recticel’s industrial
customers. Together, we will deliver innovative solutions that address the evolving needs of industrial
construction in Belgium and beyond. As part of our “Elevate 2030” strategic plan, we are pursuing
additional acquisitions in Europe to enlarge our downstream offer.”
Laurens Couckuyt, Chief Executive Officer Miclar, added:
“The partnership with Recticel will enable us to accelerate innovation, expand our capabilities, and
deliver even greater value to our customers. It will serve as a springboard for our European expansion.
We look forward to combining our expertise with Recticel’s vision for sustainable growth and smart
insulation.”
