BME Group expands footprint in the South of Belgium with the acquisition of Induscabel
BME Group (BME) and the shareholders of Induscabel have reached an agreement on the sale of the activities of Induscabel to BME. Induscabel is a distributor of Heating and Bathrooms located in the Walloon region of Belgium. This transaction is still subject to approval by the Belgian Competition Authorities and is expected to be completed in the course of 2022.
Induscabel is a family-owned business founded in 1955 by Paul Blockmans and managed by his son Mr. Bernard Blockmans. The company consists of 10 locations and employs a total of 135 people.
BME is one of Europe’s leading multi-specialist distributors of building products with leading market positions across Europe. They are operating in the Belgium market under the general building materials brand ‘BMB Bouwmaterialen’ (11 branches) and under the new ‘STG’ brand for their Sanitary, Heating & Plumbing activities, which includes sub-brands ‘Sax’, ‘Schrauwen’ and ‘Lambrechts’ (43 branches).
“Induscabel is an excellent fit for our Belgium market and part of the BME growth strategy. It marks an important milestone for STG in becoming the market leader in the SHAP wholesale sector in Belgium. We look very much forward to welcoming the colleagues of Induscabel to the BME Group”, said Remco Teulings, Group CEO of BME.
Financial details of the transaction will not be disclosed.
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