Etex acquires Lafarge Gypsum's plasterboard activities in Europe and Latin America
Following the announcement in July 2011 of Etex Group's intended ‚€1bn acquisition of Lafarge's European plasterboard division and its South American gypsum assets, Arrowpoint Advisory, the UK's leading corporate finance advisory firm, confirms that the deal completed on 4th November, 2011.
Etex, a privately held Belgian industrial group, specialises in the manufacture and marketing of high quality building materials and systems. The acquired activities will be combined with the South-American plasterboard activities of Etex Group and Lafarge in a new entity, in which Etex Group will have an 80% share and Lafarge 20%. The new entity will have an estimated annual turnover of €1bn and becomes one of the three major players in Europe.
Fons Peeters, CEO of Etex commented: “The combination with Lafarge Gypsum creates a new dynamic for Etex Group. Dry construction is one of the major strategic axes for Etex and will be a fundamental lever for growth in the future. The acquisition was a unique opportunity to acquire a leadership position in this market. Our strategic focus will give the plasterboard business new opportunities and allow it to serve its customers even better.”
Simon Cope-Thompson, Managing Director at Arrowpoint Advisory said: “We have worked successfully with Etex on several occasions previously, including the €140m sale of Thermalite and the €250m acquisition of Creaton. They valued having an adviser that both understood their strategic priorities while offering an independent sounding board on the deal process and structure.”
“We are delighted to once again work with Etex on what is one of the headline deals in the sector. The plasterboard business compliments their existing worldwide activities and allows Etex to leverage their position in the dry construction market for the benefit of their customers.”