Sector News

Saint-Gobain to acquire construction-chemicals manufacturer Chryso

May 30, 2021
Energy & Chemical Value Chain

Saint-Gobain (Courbevoie, France) has entered into an agreement to acquire Chryso, a leading global player in the construction chemicals market providing differentiated and innovative solutions, from funds advised by Cinven, the international private equity firm.

Chryso provides comprehensive additives solutions for sustainable construction, relying on innovative chemistry, formulation expertise, and knowledge of construction materials. The company employs about 1,300 employees and generated over the last twelve months revenues of approximately €400million and an EBITDA of €85million.

The acquisition of Chryso perfectly fits within Saint-Gobain’s strategic vision of worldwide leadership for sustainable construction. It will further expand the Group’s presence in the growing construction chemicals market with combined sales of more than €3 billion across 66 countries. The enterprise value of €1.020 million represents a multiple of 12.0x Chryso’s last twelve months EBITDA of €85 million and a multiple of 7.6x post run-rate synergies of €50 million in year 5. Saint-Gobain will fully finance the acquisition using the proceeds from divestments made by the Group.

Following completion of the information and consultation procedure with the employees’ representative bodies, and subject to the approval of the relevant competition authorities, this acquisition is expected to be finalized in the second half of 2021.

By Mary Page Bailey

Source: chemengonline.com

 

comments closed

Related News

March 24, 2024

Thomas Gangl leaves Borealis

Energy & Chemical Value Chain

Appointed Borealis CEO in 2021, Thomas has led key initiatives including the sale of the nitrogen business, acquisitions of Rialti Spa and Integra Plastics AD, and Borouge’s IPO. He also made the final investment decision for the Borouge 4 plant, set to be the world’s largest polyolefin complex.

March 24, 2024

Chemours names Dignam permanent CEO

Energy & Chemical Value Chain

The Chemours Co. today named interim CEO Denise Dignam as the company’s permanent CEO and president, as well as a member of the board of directors, effective immediately. Dignam has been interim CEO since late February, when former CEO Mark Newman was placed on leave due to an internal investigation.

March 24, 2024

Neste merges three business lines into new Renewable Products unit

Energy & Chemical Value Chain

Neste Corp. (Espoo, Finland) has completed its organizational change process, announced on 1 November 2023. Neste informed that it will merge its three renewable business units into one Renewable Products business unit as well as restructure its functions to better support business-driven ways of working.

How can we help you?

We're easy to reach