Thermador Groupe finalised the cash acquisition of 100% of the shares of DPI (Direct Pipe Industry), a company based in Monaco for EUR 31M. An add-on payment of EUR 5.160M could be made at the beginning of 2024 if the average operating profit reaches EUR 3.859M for FYs 2022 and 2023. CIC Lyonnaise de Banque and Crédit Lyonnais supported Thermador Groupe in this operation by granting two fixed-rate bank loans over a period of 7 years.
Since its foundation in 2006, DPI has specialised in plastic piping (ducts, tubes, drains, fittings, etc.) for wet and dry networks.
DPI products are used for drinking water, wastewater, irrigation, drainage, gas, and biogas, as well as telecom and electricity networks. Its customers are specialist retailers and major players in the construction, public works, and irrigation markets. Its strategic suppliers are medium-sized companies based in Europe. Its 2022 turnover will be around EUR 60M, approximately 98% of which will be generated in France.