Braas Monier today closed the acquisition of Tejas Cobert (Spain) and CT Cobert Telhas (Portugal), market leader in the Iberian Peninsula for manufacturing and supplying clay and concrete roof tiles and fittings. For 2013, Tejas Cobert and CT Cobert Telhas reported revenues of EUR 32.1 million and a slightly positive EBITDA. In a normalised environment and including synergies, particularly related to the components business, the Group expects these acquisitions to generate additional potential of at least EUR 50 million in revenues and around EUR 10 million in EBITDA. The total cash consideration amounts to EUR 26.5 million, including existing loans. The acquisition was completely financed from existing cash on hand.
About Braas Monier
Braas Monier Building Group is a leading manufacturer and supplier of pitched roof products. The Group covers all steps of the manufacturing process, offering a comprehensive range of concrete and clay tiles for pitched roofs in Europe, parts of Asia and South Africa. The portfolio also includes ceramic and steel chimneys and energy system solutions. Braas Monier had operations in 35 countries and 108 production facilities and employed around 7,300 people as at 31 December 2014. The Company is headquartered in Luxembourg.
Braas Monier Building Group shares were included in the SDAX, the Index for Small Caps of the Deutsche Börse AG, with effect from 22 September 2014.