October 4, 2021
Grupo Lamosa signs agreement to acquire FANOSA, Mexico's leader in the Expanded Polystyrene (EPS) products industry.
San Pedro Garza Garcia, Nuevo Leon, Mexico. Grupo Lamosa announces that it has reached an agreement to acquire the Mexican company FANOSA, Mexico's leading manufacturer of Expanded Polystyrene (EPS) products, used primarily as insulation and lightening materials in the construction and packaging industries.
The transaction is subject to the applicable legal approvals that are normal for this kind of transaction.
The dollar equivalent amount of the transaction is close to USD $115 million, in terms of enterprise value, free of net debt, and is subject to usual adjustments for this type of transaction. Given Grupo Lamosa's solid financial structure and current liquidity level, the transaction is expected to be completed mostly with the company's own cash flow.
The acquisition of FANOSA strengthens Grupo Lamosa's growth and diversification strategy, allowing it to leverage its current capabilities and competences to create a platform for growth with a more comprehensive product offering focused on providing sustainable solutions for the construction industry.
The acquisition of FANOSA represents close to 8% growth in Grupo Lamosa's consolidated revenues, based on results for the last twelve months as of June 2021, as reported to the Mexican Stock Exchange.
Grupo Lamosa is a leading Mexican company focused on the manufacture and marketing of ceramic tile and adhesives, with a presence of more than 130 years in the building materials industry.
September 1, 2021
Grupo Lamosa announces the closing of the acquisition of the ceramic division of Grupo Roca in Spain.
Grupo Lamosa, S.A.B. de C.V. informs that on August 31 of this year, the acquisition of Grupo Roca's ceramic tile business was completed for approximately USD $260 million, net debt free. The transaction includes the Incepa, USCT and Gala brands, for the commercialization of ceramic tiles, among other brands, with high recognition in the Brazilian, United States and Spanish markets, respectively, as well as a license to use the Roca brand.
The transaction had the approvals required by current regulations, such as the approval of the Ordinary Shareholders' Meeting, and will be financed with debt through a syndicated loan for USD $200 million, with the participation of 7 banks and an average life and maturity profile of 4.3 and 5 years, respectively, and the remainder amount will be paid with the company's own cash.
The cash flow from Grupo Roca's ceramic division, which in terms of Ebitda amounted to US$44 million for the last twelve months as of June of this year, will contribute to the company's deleveraging trend shown in recent years.
The closing of the acquisition of the ceramic division of Grupo Roca represents a very important step in the company's growth and diversification strategy. With this transaction, Grupo Lamosa strengthens its presence in the Americas by entering the Brazilian market and reinforcing its position in the United States, two of the world's largest markets, while expanding Grupo Lamosa's operations into Europe.
Grupo Lamosa is a Mexican leading company that focuses on the manufacture and commercialization of ceramic tiles and adhesives, with a presence of more than 130 years in the construction market.
August 2, 2021
Lamosa reaches an agreement to acquire the ceramic tile division of Roca
Grupo Lamosa announces that has signed a purchase and sale agreement with the Spanish company Grupo Roca, for the acquisition of its ceramic tile division. The transaction is subject to all applicable corporate and legal approvals that are customary for this type of transaction.
The transaction amounts to approximately US$260 million, in terms of net debt free enterprise value, and is subject to usual adjustments in this type of deals. Given Grupo Lamosa's favorable leverage conditions, the company contemplates funding the transaction with debt.
The acquisition of the ceramic tile division of Grupo Roca involves the acquisition of Tiles Investments and Holdings, S.L., and its subsidiaries, which have a presence in Spain, Brazil and the United States. Its incorporation represents an increase of approximately 20% in Grupo Lamosa's consolidated revenues, as well as a 16% increase in the installed capacity of Grupo Lamosa´s ceramic tiles business, reaching up to 225 million square meters per year and positioning the company as one of the largest ceramic tile manufacturers worldwide.
This operation will strengthen Grupo Lamosa's presence in North and South America as well as allows us to expand our operations to Europe. It also represents an important step on our overall growth goals, in accordance with the company's strategic plan, to expand markets, diversify risks and continue to strengthen Grupo Lamosa's positioning and leadership.
Grupo Lamosa is a Mexican leading company focused on the manufacture and commercialization of ceramic tiles and adhesives, with a track record of more than 130 years in the construction industry.