Livingstone’s Industrial sector team has advised Etex, a global Belgium industrial group, in the acquisition of the outstanding 59.31% of the shares of Pladur Gypsum, S.A. (“Pladur” or the “Company”), for a consideration of €90.4m. Etex now controls 100% of the company.
Headquartered in Valdemoro (Madrid), Pladur is a leading designer, manufacturer and distributor of building systems for the construction industry. Pladur has an outstanding brand and is one of the leading companies in the Iberian plaster and gypsum plasterboard market. With six production facilities in Spain, Pladur has a very strong commercial presence in the peninsula as well as a team focused on exports. The company registered €78m sales in 2016 benefiting from the Spanish economic recovery and a positive outlook for new construction and refurbishment sectors.
Founded in Belgium in 1905, Etex is a global group of building materials with presence across 42 countries, 102 companies, 107 production facilities, three research centres, over 15,000 employees and a turnover in 2016 of 2,883 million euros. Through its four divisions -Etex Building Performance, Etex Façade, Etex Industry and Etex Roofing- the group offers a wide range of solutions in building materials, including plasters and gypsum plasterboard, systems for facades and roofs, and high-performance thermal and acoustic insulation.
This transaction completes Etex’s European footprint by accessing the Iberian plasters and derivatives market and strengthening its position in this segment.
Patrick Velge, Manager of Etex and Head of the acquisition team, commented: “We had worked with Livingstone before, and certainly Neil Collen and his team have demonstrated their value for creativity, rigour and professionalism more than ever throughout the process from the inception phase until completion. They have a strong local approach linked with a highly valuable multi-cultural outlook.”
Neil Collen, Partner at Livingstone, said: “The acquisition of Pladur is a strategic step for Etex and the group will now position itself a as benchmark in the Iberian market, and strengthen its leadership in the European plasterboard sector. With the recovery of both construction activity and the building sector, Spain has become a very attractive market for building materials companies.” And he added: “It has been a pleasure working with the Etex team in the analysis and structuring of the transaction. They have shown great strategic focus as well as speed and flexibility in decision making. We are confident that Pladur will benefit greatly from being part of the Etex Group.”