BRUSSELS: Bekaert today announced it has signed an agreement to acquire Dextra, a leading provider of sustainable construction reinforcement solutions, for an enterprise value of €140 million.

The transaction reinforces Bekaert’s position as an advanced materials and engineering solutions company and significantly strengthens Bekaert’s Sustainable Construction offering with complementary solutions.

The transaction is expected to close during H1 2027, subject to applicable regulatory approvals and other customary closing conditions. Headquartered in Bangkok, Thailand, Dextra employs over 1,000 people worldwide and operates globally through three production facilities in Thailand, India and China and a network of direct subsidiaries and long term partners.

As a leading accredited supplier for critical infrastructure, Dextra adds a sustainable portfolio of rebar couplers, glass fiber reinforced polymer (GFRP) solutions and engineering services to Bekaert’s existing reinforcement offering and brings a strong track record of large infrastructure projects, including airports, tunnels, power stations and ports.

Dextra’s involvement in major global multi-year infrastructure projects provides high visibility on future revenues, while its early involvement at the specification stage creates opportunities to introduce Bekaert’s complementary solutions to new and existing customers across a broader range of projects and applications.

In 2025, Dextra generated €118m in sales and €20m in EBITDA. The transaction values Dextra at an enterprise value of €140m on a cash-free, debt-free basis, representing an acquisition multiple of 6.8x estimated 2026 EBITDA.

There are additional earn-outs linked to significant EBITDA improvement for 2027–2029. The transaction is expected to be immediately EPS accretive, with commercial and scale synergies providing further potential value upside. The acquisition will be financed through existing cash balances and credit facilities, with limited impact on leverage, preserving Bekaert’s financial flexibility.

The investment demonstrates Bekaert’s commitment to Sustainable Construction as a strategic priority, addressing customer challenges and opportunities arising from the transition to lower-carbon solutions across the construction sector.

The combined businesses will offer a broader range of solutions and services for demanding infrastructure projects across the globe, helping customers build safer, faster and with a lower carbon footprint.

Eric Peeters, Divisional CEO Bekaert Sustainable Construction, commented: “Dextra brings highly complementary, sustainable products and services to our existing offering across key markets in EMEA, India and Asia. At the same time, Bekaert’s presence in North America creates opportunities to expand the combined portfolio to a broader customer base in this market. We look forward to welcoming the Dextra team to Bekaert and leveraging our combined engineering capabilities to deliver greater value to customers in the construction industry following completion of the transaction.”

Jean-Marie Pithon, Chairman and CEO of Dextra, commented: “After 43 years of creating and developing Dextra, the time has come to begin a new chapter under new ownership and leadership. After several successful years in partnership with Lakeshore Capital, we believe Bekaert is now the ideal home for Dextra, bringing together complementary strengths and opportunities for future growth. This combination provides a strong foundation for Dextra’s continued growth and long-term stability for our employees, customers and partners.”

The acquisition of Dextra is an important step in Bekaert’s strategic direction of increasingly differentiating through distinctive advanced materials and engineering solutions, building on its materials expertise, engineering capabilities and application know-how.

Olivier Biebuyck, CEO of Bekaert, commented: “Our objective is to strengthen Bekaert’s market offering and build stronger customer partnerships to generate profitable and sustainable growth. We will continue to actively manage our portfolio toward businesses and applications where our differentiated capabilities can create value. This means focusing on organic growth in attractive markets while complementing it through disciplined acquisitions.”