Saint-Gobain: agreement to acquire Fosroc

(CercleFinance.com) - Saint-Gobain announces that it has reached a definitive agreement to acquire Fosroc, a leading unlisted global player in construction chemicals, for $1.
025bn (about E960m) in cash.

With a strong presence in India, the Middle East and Asia-Pacific, Fosroc is expected to generate sales of $487m and an estimated EBITDA margin of 18.7% in 2024, with 20 production plants and around 3,000 employees.

The purchase price represents an acquisition multiple (before synergies) of approximately 11.3x Fosroc's 2024e EBITDA, and a multiple of approximately 7.1x after taking into account full-year synergies of approximately $54m in year three.

The acquisition will be fully financed from Saint-Gobain's free cash. The transaction is subject to the satisfaction of customary conditions and is expected to close in H1 2025.


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