Vic Swerts, founder and owner of global sealants giant Soudal, has acquired a majority stake in Iris Industry Solutions, a specialist in industrial coatings.
The deal, structured as a management buy-out, was completed in partnership with Iris CEO Jeroen Nevelsteen, who becomes the reference shareholder.
Iris Industry Solutions, known for its expertise in high-voltage pylon coatings and other industrial applications, generates 50 million euros in revenue and employs 300 people.
The acquisition was made through Swerts’ family investment vehicle, Jonelinvest, which also holds notable stakes in Studio 100 (17 percent acquired in 2020) and DNCP, a solvent recycling company.
Soudal, Swerts’ flagship company, employs 4,800 people and reports over 1.5 billion euros in annual revenue. Financial terms of the Iris deal were not disclosed.
