PE geomembrane maker Solmax acquires TenCate Geosynthetics
Headquartered in the Netherlands, TenCate Geosynthetics is a global provider of geosynthetics and industrial fabrics.
Groupe Solmax Inc., a Varennes, Que.-based manufacturer of polyethylene (PE) geomembranes for industrial and environmental applications, has acquired TenCate Geosynthetics, a provider of geosynthetics and industrial fabrics headquartered in the Netherlands, from Koninklijke Ten Cate.
The financial terms of the deal have not been disclosed.
“This transaction will increase [our] products’ use in civil engineering, road infrastructure, hydraulic and environmental works,” Solmax president Jean-Louis Vangeluwe said in a news release. “The size, capacity for innovation, geographic reach and resources of the new organization will further enhance the better position of geosynthetics as important products in the construction sector.”
TenCate Geosynthetics has nine production locations across the world.
Caisse de dépôt et placement du Québec (CDPQ) and Fonds de solidarité FTQ, Solmax’s financial partners, will both invest in the transaction, the release added, which is expected to close in the second quarter of 2021.
Solmax’s PE geomembranes are used to protect soils from contamination in the mining, energy, waste management, water, and civil engineering sectors.