Alpha Private Equity has acquired the Belgium-based insulation specialist Ipcom from Waterland Private Equity as part of a strategic move to enhance its investment in the growing construction sector.

Target Company Overview

Ipcom is a Belgium-based group of European companies that specializes in the distribution and conversion of thermal insulation, passive fire protection, acoustic insulation, and high-temperature products tailored for the process and construction industries. Established in 2010, the company has grown significantly through the acquisition and merger of Waeyaer-Vermeersch Isolatie and Isowill, and it has successfully executed over 20 bolt-on acquisitions as part of a focused international buy-and-build strategy.

The company’s expertise in insulation and fire protection products positions it well within the expanding construction sector, where maintaining energy efficiency and safety standards is increasingly critical. With a strong market presence in Belgium and throughout Europe, Ipcom is dedicated to delivering innovative solutions to its clients in diverse construction and industrial applications.

Industry Overview in Belgium

The construction industry in Belgium has shown resilience and adaptability in recent years, despite facing challenges such as fluctuating material costs and environmental regulations. The emphasis on energy efficiency and sustainability has driven demand for high-quality in