Vienna, Austria – Semperit has successfully completed the acquisition of RICO Group, one of the world’s leading full-range suppliers of customized elastomer and plastics applications. After all approvals were obtained, the closing took place on 31 July 2023. RICO generated revenue of approximately EUR 90 million in the financial year 2022 and employs more than 500 people in Austria, Switzerland and the USA.
“The acquisition of RICO is another important step in implementing our growth strategy with a focus on global leadership, innovation and technology. Semperit thus achieves technology leadership in liquid silicone and high-end mould production and strengthens its industrial core business. This goes along with servicing high-growth sectors such as health care and industrial household applications. The acquisition is value-enhancing and also increases our presence in the North American market”, says Semperit CEO Karl Haider.
RICO’s growth strategy, which includes expanding production at the Austrian site in Thalheim near Wels as well as expansions in the USA and Switzerland, will remain unchanged. According to international studies, the market for silicone products in Western Europe and the USA will grow significantly by around 7% annually until 2027. The market volume currently (2023) amounts to around 8 billion US dollars.