Saint-Gobain’s acquisitions in 2007
This press release details the acquisitions carried out by the Group in 2007, particularly those that were not specifically announced at the time. It does not include details of the Maxit acquisition, which was announced in August 2007 and finalized in March 2008.
In line with its strategic focus of developing business on construction markets, Saint-Gobain’s growth momentum continued to be boosted by bolt-on acquisitions in 2007. More than 80% of these acquisitions were in the Building Distribution and Construction Products sectors.
Overview of 2007 acquisitions
(a) This transaction does not represent an acquisition but the retention of a 20% stake in Desjonquères further to the sale of the Group’s Flasks business.
Building Distribution
financial investment of €582 million for around €1.3 billion in estimated additional full-year sales
The 53 acquisitions carried out by the Building Distribution Sector in 2007 added 291 new outlets to a network that now boasts more than 4,000. The largest acquisition was Norandex, a manufacturer and distributor of vinyl sidings in the US, representing a financial investment of €181 million for €580 million in estimated full-year sales.
France
16 acquisitions representing €98 million in estimated full-year sales
The main acquisitions in France concerned specialist distributors SESCO and SRDM (plumbing and heating), Cordier (roofing) and Malet (production and distribution of ready-to-use concrete) and the builders’ merchant Fabre.
United Kingdom and Republic of Ireland
8 acquisitions representing €121 million in estimated full-year sales
The largest acquisitions in the UK and the Republic of Ireland were builders’ merchant Norman Jersey, builders’ merchant Parkhead Building in Scotland; Trusses to Trust, a roofing and wooden floor specialist; ARDS Timber in Ulster; and Lonergan Hardware in the Republic of Ireland.
Italy and Spain
8 acquisitions representing €160 million in estimated full-year sales
The Building Distribution sector acquired Vemac in Italy, a major builders’ merchant in the Abruzzo region, and Discesur (Distribuciones Ceramicas Sur Madrid), Spain’s second largest tiling distributor.
Nordic countries
11 acquisitions representing €89 million in estimated full-year sales
In Sweden, the three largest acquisitions were builders’ merchants Trifab Byggvaror, Byggköp ï Västra and Andersson Trä while, in Norway, Norgesbygg Hallingdal, Bringo Bygg and BM Holveriet joined Optimera’s Scandinavian network.
Germany
5 acquisitions representing €129 million in estimated full-year sales
Raab Karcher’s acquisitions included civil construction works specialist Schulte Tiefbau, tiling specialist Jean Dern, and roofing specialists Griesinger and Schäfer.
Other countries
4 acquisitions representing €127 million in estimated full-year sales
The main acquisitions were carried out in the Netherlands (a general distributor Van Keulen based in Amsterdam, and a plumbing and heating specialist Galvano), and in the Czech Republic (tiling distributor Keramont).
Construction Products (CP)
financial investment of €248 million for €332 million in estimated additional full-year sales
Interior Solutions: 5 acquisitions, of which:
2 in Insulation:
- FiberGlass Colombia, glass wool and plaster manufacturer in Colombia,
- Owens Corning South Africa, manufacturer of glass wool in South Africa.
3 in Gypsum:
- Scanspac, a Scandinavian plaster manufacturer,
- In Vietnam, the division acquired the country’s leading manufacturer of plasterboard,
- EPD, an Algerian manufacturer of gypsum products.
Exterior Solutions: 5 acquisitions
- Norandex in North America (manufacturer of vinyl sidings),
- 4 small-scale mortar manufacturers in emerging countries (Brazil, Turkey, Serbia and Malaysia).
Innovative Materials:
financial investment of €89 million for €61 million in estimated additional full-year sales
The Flat Glass Sector carried out three small-scale acquisitions in 2007, including two in the automotive industry, and one in the building industry (Estonian outfit AS Mäo Klass), allowing Saint-Gobain Glass Solutions to consolidate its leadership in this market.
The High-Performance Materials Sector acquired four companies, mainly in the field of high-performance plastics.
Packaging
financial investment of €46 million
The Packaging Sector retained a 20% stake in Desjonquères in accordance with the sale agreement signed with the Sagard and Cognétas funds in March 2007.