French supplies firm Saint-Gobain has signed a definitive settlement to accumulate Ovniver Group, a privately-owned chemical firm in Mexico, for $815m.
The group has strains in façade coatings, tile adhesives, waterproofing and mortars, amongst different merchandise. It’s anticipated to generate revenues of $285m a 12 months, and has had a development fee of round 20% over the previous 5 years.
Saint-Gobain says the deal will strengthen its presence within the Central American market, which is value greater than $1.5bn and is experiencing double-digit development.
The all-cash deal extends a sequence of acquisitions that the French firm has made previously few years (see additional studying). That is aimed toward making a community of building chemical compounds companies extending over 76 international locations.
Benoit Bazin, Saint-Gobain’s chief govt, stated the deal was aligned with the corporate’s “develop and influence” technique. He stated: “I’m very impressed with Ovniver’s management, technique and excellent development growth, in addition to the workforce’s monitor document of wonderful execution.”
Saint-Gobain employs 160,000 folks, three-quarters of them outdoors France. It has gross sales of about €48bn and a pre-tax revenue of some €7bn.
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