Watrium’s portfolio company Flexiteek International, the global leader in synthetic teak decking and the 2G technology, has reached an agreement to acquire Wilks, manufacturer, and supplier of Dek-King synthetic teak decking and marine fendering. The acquisition will secure Flexiteek’s position as the market leader in synthetic teak decking and now also marine fendering.
Wilks, based in Essex, UK, was established in 1973. The family-owned company is well recognised within the marine market as one of the leading manufacturers and suppliers of marine fendering worldwide, with a reputation for quality and high level customer service.
“The acquisition of Wilks will provide a high-quality manufacturing base with research and development facilities. This will enable Flexiteek to continue developing innovative and first-class synthetic decking systems for years to come,” says Tomas Gustafsson, CEO of Flexiteek International AB.
“We are delighted to see Wilks join Flexiteek,” says Chris Berry, joint managing director of Wilks. Wilks has been fully owned by the Berry family, and Chris Berry and Scott Berry will continue in leading management positions in the new company.
“For us it was very important that the values of a family run company will be maintained with a new owner, and we are confident that Flexiteek will be a good home for the business going forward. We have closely followed Flexiteek’s impressive development, including Watrium’s backing of the company, over several years and look forward to taking part of this journey,” says Chris Berry.
Anders Christopher Wilhelmsen, CEO of Watrium, concludes: “Both Flexiteek International and Wilks have a strong entrepreneurial culture and share a passion to build best-in-class solutions for their customers. Watrium is thrilled to support this acquisition. This transaction is a strong fit, not only in terms of synergistic technologies and geographic expansion potential, but especially in terms of the cultural fit of both businesses, and we welcome Wilks founders’ decision to stay on board. Watrium looks forward to jointly develop Flexiteek’s and Wilks’ positioning as a leading provider to the maritime industry, including renowned OEMs like Royal Huisman, Hanse Group, Jeanneau Beneteau Group, Princess Yachts, Gulf Craft and Sunseeker International”.