Campine buys €40M Belgian flame retardant maker Flamaway to grow FR volumes 50%
What's the deal? CampineDealroom has a profile for this one. Try Dealroom →, a Belgian metals recycling and specialty chemicals company listed on Euronext Brussels, has signed an agreement to acquire the Flamaway GroupDealroom has a profile for this one. Try Dealroom →, a Belgian producer of flame retardant mixtures. The deal expands Campine's flame retardant sales volumes by more than 50%.
What each side brings: FlamawayDealroom has a profile for this one. Try Dealroom → produces roughly 10,000 tons of compounds a year and supplies industrial customers, with a strong position in textiles. Campine already sells flame retardant chemicals in powder form and as masterbatch pellets, built around antimony trioxide.
The numbers: Flamaway generates nearly €40 million in sales revenue, with an EBITDA margin around 10%. It employs about 50 people across three sites: its Zele, Belgium headquarters, operating as CTF2000Dealroom has a profile for this one. Try Dealroom →, plus facilities in Rochdale, UK, and Suzhou, China.
What's the endgame? Flamaway will join Campine's Specialty Chemicals Division, adding liquid formulations and application know-how to Campine's powder and pellet products. "Flamaway adds liquid formulations and strong application know-how," said division director Hans Vercammen.
Why now? Demand for flame retardant solutions has grown steadily in recent years, driven by Flamaway's ability to combine different chemistries. The acquisition diversifies Campine beyond its antimony trioxide-based formulations.
Chief executive officer Wim De Vos framed the strategic case bluntly: "With our joint forces, we become a global flame retardant powerhouse." He pointed to a larger product portfolio, faster FR development, and purchasing synergies.
For Flamaway CEO and main shareholder Luc Carlier, the deal offers scale and continuity. "By combining our customer networks and market access, we see significant opportunities to bring Flamaway's products to new regions and customers," he said, adding that joining "a financially strong industrial group assures continuity for my Flamaway team."
The signal: The acquisition reflects consolidation in specialty chemicals, where players bundle complementary formats — powders, pellets, and liquids — to offer ready-to-use solutions across more markets. For Campine, buying a profitable, growing competitor is a fast route to global reach in a niche with rising demand.
Image credit: roy.luck
