November 29, 2022
Grupo Lamosa receives new rating upgrade from HR Ratings
Grupo Lamosa informs to the market that HR Ratings has upgraded the Company's risk rating from "HR AA+" to "HR AAA" in local scale and from "HR BBB" to "HR BBB+" in global scale.
The upward revision is mainly based on the Company's higher revenue generation during the last 12 months, the successful incorporation of FANOSA, a leading manufacturer of expanded polystyrene (EPS) products, during the first quarter of the year, as well as the US$200 million refinancing used to finance the acquisition of Grupo Roca's ceramic tile division during the third quarter of 2021.
The rating upgrade has a stable outlook, and it has been the third time HR Ratings has raised its rating in the last three years.
Grupo Lamosa is a company with a track record of more than 130 years in the construction market, participating in the manufacture and marketing of ceramic tile and adhesives, and recently in the manufacture of EPS products. It has a relevant presence in the American continent, as well as in the European continent, given the recent acquisition of Grupo Roca's ceramic tile division, being one of the main references in the ceramic industry worldwide.
August 4, 2022
Grupo Lamosa receives rating upgrade from Fitch Ratings
Grupo Lamosa announces that Fitch Ratings has upgraded its long-term national scale ratings and the LAMOSA 19 bond (CEBUR) to "AA(mex)" from "AA-(mex), with a stable rating outlook.
The rating upgrade reflects the company's strong operating performance, which has translated into a solid financial position. It also reflects the incorporation of recent acquisitions, which have strengthened the company's business profile, broadening its scale and geographic diversification.
Fitch Ratings' rating upgrade is based on Grupo Lamosa's favorable positioning in the markets in which it participates, its attractive profitability levels, its consistent free cash flow generation, and its adequate liquidity position.
Grupo Lamosa is a company with a track record of more than 130 years of experience in the construction market, participating in the manufacture and marketing of ceramic tiles, adhesives, and expanded polystyrene (EPS) products. It has a relevant presence in the Americas, as well as in Europe, being one of the main references in the ceramic industry worldwide.
June 30, 2022
Grupo Lamosa optimizes its debt maturity profile
In order to take advantage of the company's healthy financial structure and the current behavior of interest rates in the market, Grupo Lamosa announces that at the end of the second quarter of this year, it carried out two financing transactions for a total amount of US$197 million. The first one corresponds to a bank financing agreement for US$115 million for a 7-year term at a variable rate, and the second one is a private placement for US$82 million, for a 12-year term and a fixed rate of 5.24%, and which received a BBB global scale credit rating from HR Ratings.
These resources will be used to prepay in advance the debt contracted for the acquisition of Grupo Roca's tile business during the third quarter of 2021.
With this debt re-profiling, Grupo Lamosa achieves important benefits, among which are the following: a) the maturity profile is optimized, increasing the average life of all debt; b) the amount of amortizations for the next four years is significantly reduced, allowing freeing up cash flow to support growth; c) the sources of financing are diversified; and d) the proportion of debt contracted at fixed rates is increased, in an environment of rising interest rates.
January 4, 2022
Grupo Lamosa announces the closing of the acquisition of FANOSA, Mexico's leader in the Expanded Polystyrene (EPS) products industry.
San Pedro Garza Garcia, Nuevo Leon, Mexico. Following the announcement made on October 4, 2021, Grupo Lamosa announces that it has closed the acquisition of 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 acquisition of FANOSA, which received all the necessary approvals, was financed for the most part with the company's own resources.
This transaction represents an opportunity for Grupo Lamosa to create an important path for growth by leveraging the existing capabilities of the adhesives business.
Grupo Lamosa is a Mexican company that focuses on the manufacture and marketing of ceramic tiles and adhesives, with a track record of more than 130 years in the building materials industry.