26 / 01 / 2024

Silam enters its new growth phase by joining forces with Elastofirm

Hilversum/Zumaia, 26 January 2024 – Elastofirm B.V. (“Elastofirm”), a leading company active in extrusion and compounding of rubber as well as injection moulding of Liquid Silicone Rubber (LSR), has acquired a majority stake in Silam Siliconas S.A. (“Silam”), a specialist active in extrusion and compounding of High Consistency Rubber (HCR) silicone.

By joining forces, both companies expand their product offering and gain access to new end-markets, customers and geographies. The management team of Silam will continue to lead the company and remains responsible for the realization of the growth plan for the years ahead.

Strengthening the commercial proposition and accelerating growth
Rene Doup, CEO of Elastofirm: “Elastofirm’s current offering mainly consists of rubber compounds and extruded profiles, along with LSR. The partnership with Silam will enable us to further expand our product portfolio with HCR silicone, a material that plays a pivotal role in fast growing applications and end markets. On top of this, collaborating with Silam allows us to further increase our presence across Europe and into adjacent end-markets. We are excited that Silam is joining our group, and we look forward to working with the management team of Silam in pursuing our shared growth ambitions.”

Julio Fernández, General Manager at Silam: “We are proud of the growth Silam has experienced in recent years since our partnership with Espiga Capital, who I would like to thank for their support over the past years. I also would like to share my gratitude to all employees of Silam who have made the company to what it is today. We as a management team are excited to start the next chapter with Elastofirm. We see many opportunities to strengthen each other, amongst others by offering our current and future customers a more comprehensive range of solutions.”

Juan Carvajal, Managing Partner at Espiga: “Over the past years Silam has shown an impressive, international growth trajectory with its strong customer oriented proposition and high quality products. It has been an honor to support management in Silam’s value creation and to develop the company into the strong player it is today. We would like to thank management and the entire Silam organization for the very pleasant, entrepreneurial and successful partnership. We still see endless opportunities for Silam to grow and are looking forward to following Silam’s successes closely.”

About Silam
is engaged in extrusion and compounding of HCR silicone. Examples of its products include profiles, tubes and seals. The products are served to a broad customer base spanning various end-markets such as household appliances, automotive, lighting, and pharma. Silam operates from two facilities in Northern Spain.

About Elastofirm
is primarily involved in the extrusion and compounding of rubber, as well as injection moulding of LSR. Elastofirm serves a broad customer base of industries such as construction, transportation, and the general industry. Elastofirm sells its products across Europe and has production locations in the Netherlands and Germany. Elastofirm has been a portfolio company of the investment firm Egeria since 2021.