Foams specialist Kramo (Buggenhout / Belgium; www.kramo.be) has acquired Masterfoam (Ootmarsum / The Netherlands; www.masterfoam.nl) from equity provider Wadinko and managing director Udo Storck. Financial details were not disclosed.

Storck, who has held a majority stake in Masterfoam since 2011 (see Plasteurope.com of 22.11.2011), will remain a shareholder and be CEO of the group. The joint company is expected to generate a turnover of more than EUR 12m.

Masterfoam’s production facilities in Ootmarsum will be the site of the future headquarters. The new group will also have two other factories, one owned by Kramo in Buggenhout, as well as Masterfoam’s site in Bistrița / Romania. Masterfoam also brings in a distribution company in Greven / Germany.

Both companies convert PU and PE foams, films and mats into damming, insulating and acoustic solutions for the automotive and other industries. In addition, the group manufactures protective packaging for the computer, medical and entertainment sectors.