SAINT-GOBAIN, through its Chryso business, has completed the acquisition of concrete admixture firm Matchem in Brazil, and entered into exclusive negotiations to acquire IDP Chemicals in Egypt.
The acquisitions of Matchem and IDP Chemicals will allow Saint-Gobain to strengthen its position in construction chemicals, the company says. In particular it will reinforce its stake in concrete admixtures which play a key role in the decarbonisation of the construction industry. Both acquired companies are focused on the buoyant building and infrastructure markets in Brazil and Egypt, which are expected to see strong growth for the years to come.
Concrete Admixture Firms Acquisition
Matchem, established in 2011, employs around 50 people across two plants in Brazil. In 2022, the firm generated revenues of close to €20 million. Together with Quartzolit, a key firm in mortars (tile fixings, wall and floor coatings, waterproofing membranes), TekBond, a sealant and adhesive specialist, and the recently acquired GCP Applied Technologies, Matchem will reinforce Saint-Gobain’s platform in construction chemicals, as a part of the Brazilian market with 24 industrial sites.
IDP Chemicals, licensed by Chryso since 2018, employs 25 people at one plant. The firm is well positioned to serve the dynamic construction market in Egypt, according to Saint-Gobain. This acquisition is expected to be finalized in the first quarter of 2023.
Chryso benefits from Saint-Gobain’s strong presence in Brazil and Egypt to accelerate its inorganic growth strategy. Matchem and IDP Chemicals will be consolidated within Saint-Gobain’s Construction Chemicals segment in High Performance Solutions.
The acquisitions of Matchem and IDP Chemicals are in line with Saint-Gobain’s ‘Grow & Impact’ strategy aiming to strengthen the Group’s leadership and accelerate its growth by adding to its range of solutions for light and sustainable construction.
Saint-Gobain designs, manufactures and distributes materials and services for the construction and industrial markets. It achieved €44.2 billion in sales in 2021 and has 166,000 employees in 76 countries. The company has committed to achieving carbon neutrality by 2050.
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