WVT Industries, a fast-growing company specializing in research, development, production and sales of industrial cleaning and disinfectant products, announces the acquisition of Innovis, a leading Brussels-based supplier of cleaning and disinfectant products distributed under the well-known ‘DIPP Professional’ brand to the professional kitchen and food wholesale segment. Both companies, WVT Industries and Innovis, are active in the cleaning and disinfectant industry which is currently at the heart of contributing to the fight against COVID-19.
With this transaction, WVT Industries confirms its previously announced intention to grow focused and more quickly by expanding geographically and strengthening its presence in complementary market segments. This transaction has been completed with the support of Sofindev, WVT Industries’ financial and strategic partner.
Since its creation in 2007, Innovis with its brand ‘DIPP Professional’ has become the reference in the supply of high quality hygiene products and concepts to the small to medium professional kitchens, with a leading market position in Belgium and a growing market presence in France and the Netherlands. Innovis’ main end-customers are food specialist retailers like bakeries, butchers, snack bars, hotels and restaurants,.. and to a lesser extent large kitchens and industrial customers in the automotive, construction and maritime sectors. Innovis was able to achieve this unique market position, thanks to its portfolio of high-quality products, its intense marketing-driven approach and its close collaboration with its partners in food service.
Ward Van Thielen, managing director and founder of WVT Industries:
“This acquisition is perfectly in line with WVT Industries’ growth strategy and ambition to become a leading European player in cleaning chemicals and disinfectants, by further expanding our range and internationalizing our business. Innovis is a fast-growing company that focuses on quality products & customer intimacy, which is fully in line with our vision. With the acquisition of Innovis, we strengthen our presence in another niche market. The complementarity between WVT Industries and Innovis is strong, as well as the common values and growth ambitions we share. We are very pleased to join forces with Tom and his Innovis team, and combining the best of both companies.
Innovis is the second acquisition of WVT Industries in 18 months, after the acquisition of the Dutch company StarMarine Chemicals, and the first acquisition since Sofindev’s investment in WVT Industries in May 2019. This acquisition is also perfectly in line with our strategy to achieve a healthy balance between organic and acquisitive growth.”
Tom Hochepied, co-shareholder and managing director of Innovis:
“I am excited to conclude this partnership because of the great complementarity between both companies as well as the growth opportunities and synergies that will be generated from this combination. We take this opportunity to join the WVT Industries platform and are convinced that we have found the right partner to help us achieve our strong growth ambitions with ‘DIPP Professional’ in our market. This evolution allows Innovis to further focus on product quality, innovation and customer relations, while relying on the strong expertise and experience of WVT Industries.”
Jan Camerlynck, Partner Sofindev:
“The Sofindev team is very proud of what we have achieved together with Ward Van Thielen and the WVT Team over the past year in terms of transformation and growth. We would also like to thank Tom Hochepied and the shareholders of Innovis for entrusting WVT Industries as the new home for Innovis and we welcome them as shareholder of WVT Group. This is a great step in our ambitious development plan and we look forward to further supporting WVT Industries and Innovis’ journey towards growth.”
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