Campine Acquires Flamaway Group, Expanding Flame Retardant Business by 50%

Campine NV, listed on Euronext Brussels and headquartered in Beerse, Belgium, has signed an agreement to acquire Flamaway Group, a Belgian producer specializing in flame retardant mixtures. The acquisition, announced on September 8, 2026, is set to close on October 1, 2026, and will significantly expand Campine’s flame retardant activities by more than 50% in volume.

Flamaway Group operates manufacturing and distribution facilities in Belgium, the UK, and China, producing approximately 10,000 tons of flame retardant compounds annually. The group generates nearly €40 million in sales with an EBITDA margin around 10%. Flamaway employs about 50 people across its three locations, including dedicated R&D teams focused on innovative flame retardant formulations.

Campine, known for its metals recycling and specialty chemicals business, currently offers flame retardant products primarily based on antimony trioxide formulations. The acquisition adds Flamaway’s expertise in multi-material flame retardant mixtures, including liquid formulations and proprietary compounds, diversifying Campine’s product portfolio and enhancing its presence in the textile and industrial sectors.

“With our joint forces, we become a global flame retardant powerhouse,” says Wim De Vos, CEO of Campine. “Our product portfolio will enlarge substantially with Flamaway’s R&D and multi-material knowledge, we will boost developments in Campine’s flame retardant business and realise synergies in purchasing.”

Luc Carlier, CEO and main shareholder of Flamaway, will continue to lead the group post-acquisition. He highlights the strategic fit: “By combining our customer networks and market access, we see significant opportunities to bring Flamaway’s products to new regions and customers. Joining forces with a financially strong industrial group assures continuity for my Flamaway team and will be an accelerator for growth.”

Hans Vercammen, Director of Campine’s Specialty Chemicals Division, notes the complementary nature of the deal: “We already provide flame retardant chemicals in powder and masterbatch pellet forms. Flamaway adds liquid formulations and strong application know-how. Together, we can offer customers a broader range of ready-to-use flame retardant solutions across different markets.”

The acquisition is expected to generate multiple synergies. Revenue growth will be driven by cross-selling Flamaway’s proprietary formulations to Campine’s existing customers and expanding into new geographic markets, particularly leveraging Flamaway’s UK and China operations. Cost efficiencies are anticipated through consolidated administrative functions and optimized procurement leveraging combined purchasing volumes. Operationally, integrating R&D capabilities aims to accelerate innovation in flame retardant technologies.

Industry experts note that this acquisition strengthens Campine’s competitive position in the specialty chemicals sector, particularly in flame retardants, where scale and product diversity are critical. The deal also reflects ongoing consolidation trends in the chemical manufacturing industry, as companies seek to broaden portfolios and geographic reach to meet evolving regulatory and market demands.

Integration challenges include aligning R&D teams across multiple countries, managing cultural differences, and maintaining customer relationships during the transition. Regulatory compliance related to chemical formulations remains a key consideration.

Campine plans to fully integrate Flamaway into its Specialty Chemicals Division, with Carlier and Vercammen jointly overseeing the implementation of synergies and growth initiatives. The transaction is expected to close on October 1, 2026, subject to customary closing conditions.

Looking ahead, Campine aims to leverage the combined expertise and expanded product range to accelerate growth in flame retardants globally, particularly targeting the textile and industrial sectors with innovative, multi-material solutions.