Braas Monier Building Group S.A. / Key word(s): Mergers & Acquisitions
BRAAS MONIER closes acquisition of market leader in roof tiles in Spain and Portugal
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 shares were included in the SDAX, the Index for Small Caps of the Deutsche Börse AG, with effect from 22 September 2014.
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|Company:||Braas Monier Building Group S.A.|
|5, rue Guillaume Kroll|
|Grand Duchy of Luxembourg|
|Listed:||Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Berlin - Tradegate Exchange, Düsseldorf, München, Stuttgart|
|End of News||DGAP News-Service|