Livingstone’s Industrial sector team has advised Etex, a leading Belgian international company in the building products sector, on the sale of its Portuguese investee, Umbelino Monteiro, a specialist in the ceramic roof tile industry. The investing party is Edilians, France’s number one ceramic roof tile manufacturer, formerly known as Imerys Toiture.
Founded in 1959, with a staff of 100 employees, Umbelino Monteiro is one of the most recognised brands in the Portuguese roofing market, and one of its largest manufacturers of clay tiles and ceramic accessories for roofing, offering solutions in both the national and international markets.
Edilians is the leading roof tile manufacturer in France dedicated to providing durable solutions for roofs and facades. Umbelino’s acquisition is in line with the group’s strategic plan to expand its European presence by growing through acquisitions.
Patrick Velge, Head of Corporate Development at Etex, commented: “For Etex, this divestment is in line with a strategic evaluation of our business portfolio. We are convinced that Edilians will open up an exciting future for Umbelino Monteiro. The preparation and execution of the transaction has been smooth, as is usual with the Livingstone team.”
Jorge Tuñí, Director at Livingstone added: “Working with Etex during this transaction has been a great experience. Their professionalism made closing the deal in a short period of time possible. We hope to continue collaborating on Etex’s new investment and divestment projects.”
This is the second transaction in which Livingstone acted as exclusive advisor to Etex, following its 2017 acquisition of Pladur Gypsum.