Founded in 1984, IZOLIR benefits from more than 35 years of experience in manufacturing pre-insulated pipes, utilised in pipelines and industrial installations, as well as for residential and commercial heating requirements (e.g. district heating).

The brand is well-regarded both domestically and in other countries of South-East Europe. As one of the top three producers of heat-shrinkable joints in Europe, IZOLIR operates predominantly in Serbia, Croatia and Bosnia.

Commenting on the transaction, Patrick Mathieu, President & CEO of the Armacell Group, said: “The acquisition of IZOLIR extends Armacell’s footprint in Europe, enabling us to reach more customer segments in new geographies. Furthermore, we are adding new capacities to our product portfolio and are entering the energy efficient and fast growing pre-insulated pipe market.”

“We are delighted to join the global Armacell family,” added Marijana Mati?, General Manager of A.D. IZOLIR. “Building on our longstanding product excellence and leveraging our position as the market leader in the region, we look forward to starting a new chapter in the company’s history.”

The transaction includes production lines in IZOLIR’s manufacturing facilities in Zrenjanin and Alibunar and establishes a business presence for Armacell in Serbia.

The parties have agreed to keep the purchase price of the transaction confidential.