Recticel SA/NV (ENXTBR:RECT) entered into an agreement to acquire Rex Panels & Profiles SA from Michel Verhelst for an enterprise value of ?70 million on December 21, 2023. The transaction has an enterprise value of ?70 million in cash, with an earn-out mechanism linked to the EBITDA performance over 2024. The valuation is based on the market value of the acquired production assets, including a newly constructed production site that is planned to start up in Q1 2024. For FY 2022, REX realized sales of
?64 million and an EBITDA of ?5.2 million with 75 employees. The transaction is expected to be completed in January 2024.