Campine Acquires Flamaway Group Expanding Flame Retardant Activities

Campine NV, a Belgian metals recycling and specialty chemicals company listed on Euronext Brussels, has expanded its flame retardant activities by more than 50% through the acquisition of Flamaway Group, a Belgian producer of flame retardant mixtures.

According to the press release, Campine has signed an agreement to acquire Flamaway Group, which has manufacturing operations in Belgium, the UK, and China. The acquisition will significantly enhance Campine's position in the flame retardant market, leveraging Flamaway's expertise in multi-material formulations and adding approximately 10,000 tons of compounds annually to Campine's existing specialty chemicals and masterbatch activities.

Flamaway, headquartered in Zele, Belgium, specializes in providing chemical compounds to industrial customers, particularly in the broader textile industry. Its portfolio includes established flame retardant products and innovative proprietary mixtures, diversifying Campine's existing product line, which is mainly focused on antimony trioxide-based formulations.

The acquisition is expected to boost Campine's flame retardant sales, with the company's CEO, Wim De Vos, stating, "With our joint forces, we become a global flame retardant powerhouse." The CEO added, "Our product portfolio will enlarge substantially with Flamaway's R&D and multi-material knowledge, we will boost developments in Campine's FR business and realise synergies in purchasing."

Luc Carlier, CEO and main shareholder of Flamaway, expressed his satisfaction with the deal, saying, "By combining our customer networks and market access, we see significant opportunities to bring Flamaway's products to new regions and customers. And I am particularly glad I found a Belgian home with a similar culture for my company." Carlier also noted that the acquisition will ensure continuity for Flamaway’s team and support future growth.

Hans Vercammen, Campine’s Specialty Chemicals Division Director, emphasized the complementary nature of the acquisition, stating, "For our existing customers, the combination is highly complementary. We already provide flame retardant chemicals in powder form and as masterbatches in pellet form. Flamaway adds liquid formulations and strong application know-how. Bringing these capabilities together will allow us to support customers with a broader range of ready-to-use flame retardant solutions in different markets."

The acquisition is scheduled to be completed on October 1st, 2026. With a sales revenue of nearly €40 million and an EBITDA profit around 10%, Flamaway is set to bolster Campine's financial performance and product portfolio.